European energy leaders invest in Pstryk
Pstryk, a Polish technology company offering electricity based on dynamic pricing, has announced the successful closing of its €7 million Series A funding round. The investment was led by Future Energy Ventures, one of Europe’s leading venture capital funds, founded by experts from E.ON and RWE. The round also included strategic investor Axpo, one of Europe’s largest energy producers and traders. At the same time, Pstryk is announcing changes to its management board as it prepares the company for its next stage of growth.
The €7 million funding round increases Pstryk’s total funding to nearly €13.8 million. The participation of Future Energy Ventures and Axpo provides strong validation of the company’s business model and its potential to play a significant role in the transformation of Poland’s energy market. The round also included Montis, as well as existing investors ffVC, Simpact Ventures and private investors.
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“Energy-retail is shifting from a one-way relationship between utilities and consumers to a dynamic system shaped by millions of prosumers. Pstryk is building the missing link between households and the energy system, helping customers optimize consumption, manage assets and participate in energy markets through a seamless digital experience. This is exactly the type of neo-utility we believe will define the next decade of energy innovation,” said Moritz Jungmann, General Partner, Future Energy Ventures.
“The energy market is experiencing one of its most interesting periods of change in years, and technology is becoming one of the key drivers of this transformation. At Axpo, our active involvement in the creation of innovative energy solutions includes investing in projects that respond to emerging market needs. So we’re particularly pleased to be supporting Pstryk, a Polish company that is addressing those needs by developing solutions that will positively affect the future of the entire sector,” said Mateusz Marczewski, Managing Director of Axpo in Poland.
Changes to Pstryk’s management board structure
Following the completion of the funding round, Pstryk is expanding its management board, combining the expertise of consumer brand builders with deep experience from the energy sector.
Joining the management board are Jacek Szlendak, who assumes the role of Chief Executive Officer of Pstryk Energy Group, and Magdalena Górska-Warchoł as Chief Financial Officer. Together, they co-created Health Labs Care, one of Poland’s fastest-growing direct-to-consumer brands, for which they received the EY Entrepreneur of the Year award in 2022. Previously, they also worked together on the development of Perfect Gym Solutions, a Polish technology company that achieved international success. They bring to Pstryk what they believe the energy market has lacked the most to date – the ability to build products and brands that genuinely address customers’ needs and preferences.
Leszek Jastrzębski, co-founder of Pstryk and a technology investor, also joins the management board, taking on the role of Chief Strategy Officer. He is responsible for business development and the monetisation of the company’s activities in the energy market.
Responsibility for the Group’s regulated business rests with Mirosław Bieliński, formerly Chief Executive Officer of Pstryk Energy Group, who is now fully focused on his role as Chief Executive Officer of Bankilo Obrót, the Group’s subsidiary responsible for its licensed energy trading business. A former CEO of ENERGA SA and a long-standing executive in the energy sector, he is concentrating on the area that requires the deepest expertise in regulated energy markets – managing regulated operations and maintaining relationships with key market participants.
Pstryk prepares for the next stage of growth
“The most difficult markets are often the last to change. In the energy sector, change is measured in decades – the way Polish households buy electricity has remained virtually unchanged for generations. It took us far less time to demonstrate that a business model based on dynamic pricing works in the Polish market and responds to real customer needs. For the first time, customers have gained a genuine alternative and greater control over their electricity bills. That phase is now behind us. Our focus is now on scaling the business, which is why we secured new funding and adapted our organisation for its next stage of development. We have built a structure that combines the capabilities required to scale a modern technology business with the expertise of people who have a deep understanding of the regulated energy market. This allows us to consistently execute our strategy of bringing our offering to hundreds of thousands of households across Poland,” said Jacek Szlendak, Chief Executive Officer of Pstryk Energy Group.
Dynamic pricing transforms household energy use
Pstryk is developing a business model that changes the way households use electricity. Instead of passively buying electricity at a fixed price, consumers can actively manage their consumption and align it with real market prices. Combined with the growing adoption of rooftop solar installations, heat pumps, battery storage systems and electric vehicles, this creates a new model of participation in the energy market. Pstryk supports this transformation by offering electricity priced according to hourly market rates, together with a mobile application that helps users make informed decisions about their energy consumption and costs.
New funding supports technology and expansion
The company will use the newly raised capital to further develop its technology, scale its operations, and expand the availability of its services to more households across Poland.
Picture Pstryk Board Gorska, Warchol, Bielinski, Szlendak and Jastrzebski Credits Pstryk
Source Picture and Text Pstryk
