Propflo receives Innovation Grant for its green home tool

Propflo, an award winning proptech company, is excited to announce that it has won an innovation grant to further develop its green engagement and decision tool to help homeowners make their properties more energy efficient. The £35k grant is part of the Business Innovation Fund, a programme funded by the West of England Combined Authority.

A key barrier for homeowners undertaking energy efficiency upgrades is that a convincing investment case isn’t presented and there is then a lack of ongoing support and engagement. Propflo’s tool will help solve this problem by providing homeowners with a clear and comprehensive view of the ‘green value’ they can achieve by investing in energy-efficient upgrades, and support throughout their journey with impact monitoring, next steps and a property vault for key documents in one place.

After raising a £750k funding round last September, the grant will further fund enhancements to machine learning models for personalised recommendations based on each homeowner’s unique circumstances, overlaying Propflo’s property data, and testing an integration to smart meter data for real-time benchmarking and impact monitoring. This will help homeowners make informed decisions about which upgrades to prioritise to achieve the maximum energy savings and financial benefits, and then track these benefits over time.‍

“Our tool will… make it easier to invest in energy-efficient upgrades and save on energy bills”

Luke Loveridge, Founder and CEO at Propflo tells us, “We are thrilled to receive this grant and continue our mission to help homeowners make more sustainable decisions about their properties. Our tool will provide lenders, estate agents and mortgage brokers with a cutting-edge tool to help homeowners overcome key barriers to retrofitting their properties, making it easier for them to invest in energy-efficient upgrades and save on their energy bills.”

Ying Tan, Lead investor and Non-Executive Director, adds, “With increasing regulatory and societal pressure on lenders to do more on energy efficiency, it’s vitally important that the whole ecosystem provides support to property owners to make their homes greener now, but also support them when they need to make future upgrades. This is where technology can play a vital role, especially for lenders.”