Octopus Energy’s valuation has jumped nine billion US dollars after two of its biggest investors increased their stakes in the business.
CPP Investments, which manages about 590.8 billion Canadian dollars-worth of assets, increased its stake to 12%. The latest estimate comes after Octopus closed its last funding round in December, when it raised 800 million US dollars. The eight-year-old company overtook Centrica-owned British Gas, which had been the largest supplier for the last 20 years, according to Ofgem data.
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