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Octopus Group
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Octopus Capital Limited (formerly Octopus Capital Plc), commonly known as Octopus Group, is a privately held United Kingdom based holding company founded in 2000 by Simon Rogerson, Christopher Hulatt and Guy Myles as a fund management company.
Key Information
Through its subsidiaries, it operates in the investment management, venture capital, energy, and real estate industries.[3][4]
Businesses
[edit]Octopus Energy
[edit]Octopus Energy was established in 2015 as a retail electricity and gas supplier in the UK, and by December 2019, had over 1.35 million domestic and business customers. Under the Octopus Energy Group brand, it has expanded into energy for business and energy services, and licences its customer handling software to other energy suppliers.[5]
Octopus Energy Generation
[edit]Octopus Energy Generation owns and manages renewable energy production, particularly in solar and onshore wind. According to its own website, it is one of the largest owners of renewable energy infrastructure in Europe, with £3bn of assets under management.[6] Previously a separate entity within Octopus Group, the company was acquired by Octopus Energy in July 2021.[7] Octopus Energy Generation is the manager of Octopus Renewables Infrastructure Trust,[8] an investment fund which was floated on the London Stock Exchange in December 2019.[9]
Octopus Inheritance Tax Service
[edit]Octopus Inheritance Tax Service provides investors a possibility to purchase shares of one or more unquoted UK companies that are contributing to the UK economy growth. Notable investments include Fern Trading Ltd.,[10] a £2.8 billion trading company with a concentration on short-term loans to seasoned real estate professionals, as well as the development and management of fiber broadband in underserved areas. In 2020, Vorboss was added to Fern's portfolio of UK broadband network builders, getting £250m in funding.[11][12]
Octopus Money
[edit]Octopus Money was launched in 2023 to offer money coaching and advice to consumers, often through the individual's employer.[13][14] The business is run by Ruth Handcock, who joined Octopus Investments from Tandem Bank in 2018.[13] The launch of the brand followed the purchase of Hatch Financial Coaching in 2021,[13] and replaced Octopus Wealth, a financial advice business announced in 2018.[15]
Octopus Investments
[edit]Octopus Investments, part of Octopus Group, is a UK-based investment management company founded in 2000. As of June 2025, it manages £9.9 billion on behalf of retail and institutional investors. The firm employs over 600 people and is headquartered in London.
Octopus Investments is a certified B Corporation. It offers a range of products for retail investors, including venture capital trusts (VCTs), enterprise investment schemes (EIS), business relief-qualifying investments, and listed UK small and medium-sized company funds. Its institutional strategies focus on renewable energy, sustainable infrastructure, real estate, healthcare, and venture capital.
Octopus Capital and Octopus Ventures operate as divisions within Octopus Investments. Octopus Investments Ltd is authorised and regulated by the UK Financial Conduct Authority.
Octopus Ventures is a venture capital fund with assets of £1.7bn as of 2022[update].[16] Notable Octopus Ventures investments include SwiftKey, ManyPets, Graze, and Zoopla.[17]
Octopus Capital is an institutional asset manager specialising in real estate, energy and infrastructure, and private debt. The company was previously known as Octopus Institutional Investments and Octopus Real Estate. It focuses on alternative assets, with strategies designed to deliver financial returns while addressing wider economic and social challenges.
Octopus Legacy
[edit]Octopus Legacy is a UK company that provides estate planning, probate, and bereavement support services. The business was founded in 2016 as Guardian Angel by entrepreneur Sam Grice after the sudden death of his mother, with the aim of making bereavement and estate planning easier to navigate. Headquartered in London, it became part of Octopus Group in 2022. [18][19]
References
[edit]- ^ "OCTOPUS CAPITAL LIMITED overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 27 January 2026.
- ^ "OCTOPUS CAPITAL LIMITED overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 27 January 2026.
- ^ Bounds, Andy (12 October 2016). "Octopus Group founders are EY UK Entrepreneurs of the Year". Financial Times. Retrieved 27 February 2020.
- ^ "About". Octopus Group. Retrieved 27 February 2020.
- ^ "Octopus Energy Group". Retrieved 8 May 2021.
- ^ "About". Octopus Renewables. Retrieved 27 February 2020.
- ^ Cotton, Barney (5 July 2021). "FCA clears acquisition of Octopus Renewables by Octopus Energy". Business Leader. Retrieved 7 July 2021.
- ^ "Octopus Renewables - Further Investment Management Update". Proactiveinvestors UK. 30 June 2021. Retrieved 7 July 2021.
- ^ Thicknesse, Edward (6 December 2019). "New Octopus Renewables trust smashes target in £350m float". City A.M. Retrieved 27 February 2020.
- ^ "The outlook for Fern Trading Limited". Octopus Investments. 4 August 2022. Archived from the original on 30 March 2023. Retrieved 10 April 2024.
- ^ Jackson, Mark (13 February 2021). "Full Fibre UK ISP Vorboss Acquired by Fern Trading Limited". ISPreview UK. Retrieved 10 April 2024.
- ^ "London Tech Week: The capital is being 'held hostage by legacy fibre providers'". London Tech News. 15 June 2023. Retrieved 10 April 2024.
- ^ a b c Hickey, Sally (24 May 2023). "Octopus Group launches money coaching and advice business". FTAdviser. Retrieved 24 May 2023.
- ^ "About". Octopus Money. Retrieved 24 May 2023.
- ^ Walmsley, Charles (19 December 2018). "Octopus launches restricted advice business". citywire.com. Retrieved 24 May 2023.
- ^ "Octopus Investments". ScaleUp Institute. Retrieved 8 October 2025.
- ^ "Portfolio". Octopus Ventures. Retrieved 8 October 2025.
- ^ Rach, Sonia (12 December 2022). "Octopus buys tech firm to help people prepare for death". FT Adviser. Retrieved 23 February 2024.
- ^ Mclaughlin, Aimee (31 January 2024). "Octopus Legacy on changing how we talk about death". Creative Review. Retrieved 23 February 2024.
External links
[edit]
Octopus Group
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Octopus Group is a privately held British holding company founded in 2000 by Simon Rogerson, Chris Hulatt, and Guy Myles, focused on building and investing in businesses across financial services, renewable energy, real estate, and entrepreneurial ventures.[1][2] The firm manages billions in assets under management, has invested £9.9 billion in the UK economy as of June 2025, and serves over 1.5 million customers through its subsidiaries, emphasizing technology-driven solutions for societal challenges like affordable green energy and accessible finance.[1] As a certified B Corporation, Octopus Group prioritizes measurable environmental and community impact, with notable involvement as the largest external shareholder in Octopus Energy, Europe's leading investor in solar assets.[3] Its founders, Rogerson and Hulatt, received the EY UK Entrepreneur of the Year award in 2017 for scaling the group into one of Britain's fastest-growing enterprises.[4]
These figures highlight resilience, with profitability emerging despite sector headwinds like regulatory caps and wholesale volatility, supported by diversified operations beyond UK retail.[83]
History
Founding and Early Investments (2000–2014)
The Octopus Group originated as Octopus Investments, founded in 2000 by Christopher Hulatt, Simon Rogerson, and Guy Myles in the United Kingdom as a fund management firm emphasizing alternative investments for individual investors. Hulatt, formerly head of a global equity research team at Mercury Asset Management, started the company from his bedroom with an initial focus on tax-advantaged vehicles such as Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) to channel capital into small, high-growth UK businesses, particularly those on the Alternative Investment Market (AIM).[5][6][7] Octopus launched its inaugural VCT in 2002, marking the beginning of a strategy to provide retail investors access to unquoted and smaller quoted companies via structures offering income tax relief and capital gains tax exemptions. By 2006, the firm had expanded this approach with the establishment of Octopus Apollo VCT, targeting growth capital in more mature small businesses, and Octopus AIM VCT 2, which invested in AIM-listed enterprises from inception. These vehicles enabled early portfolio construction in sectors including technology, healthcare, and emerging renewables, with investments aimed at generating tax-free dividends and capital appreciation for shareholders.[8][9][10] Throughout the 2000s and into the early 2010s, Octopus Investments scaled through successive VCT launches and fundraises, including joint offerings for AIM-focused trusts reaching £20 million by 2014 and Titan VCT series targeting £50 million. The creation of Octopus Ventures around 2007 introduced direct early-stage venture capital commitments, culminating in the 2014 disclosure of a £60 million evergreen fund for seed and Series A rounds in European technology startups, backed by a broader £280 million pool of VCT, EIS, and LP/GP resources. This period solidified Octopus's reputation in smaller company investments, managing assets that grew from initial seed capital to billions under management by prioritizing long-term holdings over short-term trading.[11][12][13]Expansion into Energy and Diversification (2015–Present)
In 2015, Octopus Group established Octopus Energy as its retail energy supply arm, leveraging technology to disrupt the UK market with fixed-price tariffs and a focus on renewable sourcing.[14] The venture, founded by Greg Jackson with backing from the Group's investment division, aimed to simplify billing and accelerate the shift to green energy amid regulatory changes enabling easier supplier switching.[15] Octopus Energy expanded rapidly, growing from a niche player to the UK's largest electricity supplier by customer base, powering over 10 million homes across multiple countries by 2025.[16] Key milestones included international launches in Germany, Japan, and Australia post-2016, followed by US entry through the 2020 acquisition of Evolve Energy, which rebranded as Octopus Energy U.S.[17] In June 2024, the Group made its first direct US renewables investment to support grid-scale projects.[18] To bolster generation assets, Octopus Energy acquired Octopus Renewables in March 2021 for an undisclosed sum, integrating management of £3.4 billion in assets spanning 250 large-scale renewable projects and nearly 3,500 rooftop solar installations across seven countries.[19] This move positioned the entity among Europe's largest green power operators, emphasizing wind, solar, and storage. The energy division was restructured in 2022, demerging from the Group's core holdings for operational independence while retaining significant shareholder ties.[20] Beyond energy, the Group pursued diversification, acquiring a majority stake in online divorce platform Amicable in December 2023 to expand into legal fintech services.[21] In April 2025, it announced plans for a UK mobile virtual network operator, extending into telecommunications as part of a strategy to bundle essential utilities.[22] These initiatives complemented ongoing investments in real estate, ventures, and sustainable infrastructure, with the Group's assets under management reaching £9.9 billion by mid-2025.[3]Leadership and Governance
Founders and Key Executives
The Octopus Group was co-founded in 2000 by Simon Rogerson and Chris Hulatt, both former colleagues at Mercury Asset Management, with initial involvement from Guy Myles in establishing the firm as an alternative investment manager focused on disrupting traditional sectors.[23][24][5] Rogerson, who holds a first-class MA in Modern Languages from the University of St Andrews and is a Chartered Financial Analyst, led the early vision for patient capital investments, drawing on his experience heading global equity teams in pharmaceuticals and biotechnology.[23] Hulatt, possessing a first-class MA in Natural Sciences from the University of Cambridge and also a Chartered Financial Analyst, contributed expertise in equity research and fund management, helping to bootstrap the company from a bedroom operation with minimal resources.[23][25] Simon Rogerson continues as Group CEO, overseeing the conglomerate's expansion across energy, investments, and fintech divisions, with the firm now managing over £9.9 billion in assets under management as of June 2025.[26] Chris Hulatt remains a key figure as co-founder, actively involved in strategic investments and recognized alongside Rogerson as EY UK Entrepreneurs of the Year in 2017 for scaling the business.[27] Other notable group-level executives include Ruth Handcock, CEO of Octopus Money since joining in 2018 and serving on the board, and division heads like Greg Jackson, founder and CEO of the Octopus Energy subsidiary launched in 2015.[23][28] Recent appointments, such as Erin Platts as CEO of Octopus Investments in September 2025, reflect ongoing leadership evolution within the group's investment arms.[29]Ownership and Decision-Making Structure
Octopus Group is a privately held holding company, with ownership primarily controlled by its founders, Simon Rogerson, Chris Hulatt, and Guy Myles, who established it in 2000 as a fund management firm.[24][23] As a private entity, detailed shareholding breakdowns are not publicly disclosed, but the founders retain significant influence through their executive roles and direct involvement in strategic oversight.[23] The group's structure emphasizes internal control, with no major external institutional investors dominating ownership, distinguishing it from publicly traded peers. Decision-making at Octopus Group is centralized under Group CEO Simon Rogerson, who holds ultimate responsibility for day-to-day operations and the overall strategic direction across its diversified businesses in energy, investments, fintech, and real estate.[23] The leadership team, comprising founders and key executives, operates collaboratively, with board members providing specialized oversight—such as Chris Hulatt's role in aligning public affairs and policy engagement with the group's mission.[30] For subsidiaries like Octopus Energy Group, where the parent holds approximately 37.5% via OE Holdco Limited as of mid-2025, operational autonomy is granted to division-specific leadership (e.g., Greg Jackson as CEO), while major investments and group-wide synergies remain subject to central approval.[31][32] This hybrid model balances entrepreneurial flexibility in operating units with founder-led governance at the holding level, enabling rapid adaptation in sectors like renewable energy without diluting core control.[23]Business Divisions
Octopus Energy and Generation
Octopus Energy Group operates the retail supply and renewable generation divisions central to the Octopus Group's energy activities. Founded in 2016 with backing from the parent Octopus Group, a British asset management firm, it combines energy retailing with generation to deliver green power using proprietary technology. The group serves 7.2 million retail customers and 40,000 business accounts across 18 countries on four continents, managing operations from its London headquarters.[32] The retail arm, Octopus Energy Retail, supplies electricity and gas with a focus on 100% renewable tariffs, achieving milestones such as 100,000 UK customers by 2017 and over 5 million global customers by 2023. It integrates services like electric vehicle charging through Octopus Electric Vehicles, launched in 2017, and employs the Kraken platform—a cloud-based energy technology system—for billing, customer management, and grid optimization. Kraken handles 52 million accounts worldwide, including licensing to partners like Origin Energy in Australia and EDF Energy in the UK, enabling real-time data analytics to reduce costs and emissions.[32][32] Octopus Energy Generation, launched in 2020, invests in and manages large-scale renewable projects, shifting from conventional asset management to a tech-enabled approach using dynamic data, machine learning, and supply-demand forecasting. It oversees £6.8 billion in assets across more than 300 projects in eight countries, primarily solar and onshore wind, with a total capacity exceeding 4.4 GW as of December 2024—enough to power 2.6 million homes annually. Key expansions include the 2021 acquisition of Octopus Renewables, adding capacity to supply around 1.2 million homes, and recent commitments like a £3 billion hydrogen plant investment by 2030 in partnership with RES. The division also operates community-scale assets, such as two UK wind turbines acquired in January 2021 that power 800 homes with real-time wind-based pricing.[33][34] Integration between retail and generation enhances efficiency, with generation assets feeding directly into retail supply chains for optimized trading and flexibility services. For instance, Octopus Energy Generation supplies green electricity from sites like the Cumberhead windfarm to industrial clients such as Kimberly-Clark, supporting decarbonization while maintaining high asset uptime—around 98% for its turbines. This model prioritizes ESG factors and innovation, including battery storage and hydrogen to address intermittency in renewables.[33][34]Octopus Investments and Ventures
Octopus Investments serves as the primary investment management arm of the Octopus Group, specializing in alternative assets and tax-efficient vehicles for private investors. Established in 2000, it manages £9.9 billion in assets as of June 2025, serving over 70,000 investors through more than 600 employees.[7] The division emphasizes investments in renewables such as wind and solar projects, healthcare facilities including care homes, property redevelopment, and high-growth smaller companies, positioning itself as the United Kingdom's largest manager of Venture Capital Trusts (VCTs).[7] Octopus Investments offers funds qualifying for inheritance tax relief and VCTs, with the Octopus Titan VCT focusing on tech-enabled early-stage businesses and holding a portfolio of 145 companies as of recent reports.[35] These vehicles provide investors access to private equity-like opportunities while leveraging tax incentives, aligning with a strategy of backing ventures in sectors poised for scalable impact. The firm holds B Corporation certification, reflecting commitments to social and environmental standards in its operations.[7] Octopus Ventures, integrated within Octopus Investments, operates as one of Europe's most active venture capital investors, targeting early-stage companies in health, money, and industry sectors.[36] It supports founders developing solutions in areas like B2B software, biotechnology, climate technologies, consumer products, deep tech, and healthcare innovations, with ambitions to deploy £10 billion by 2030 in industries driving positive change.[36] The portfolio includes early investments in successes such as Zoopla, LoveFilm, Graze, Depop, Cazoo, and Olio, alongside recent additions like CoMind, deskbird, Rekord, and Fortify AI.[37][38] Leadership oversees both entities, with Erin Platts appointed CEO of Octopus Investments in September 2025, building on her prior role at Octopus Ventures to streamline decision-making across investment activities.[39] This structure enables coordinated support for portfolio companies, including talent acquisition and scaling expertise from a dedicated team.[36]Fintech and Legacy Services
The fintech arm of Octopus Group, primarily through Octopus Ventures, focuses on venture capital investments in innovative financial technologies aimed at enhancing payment systems, security, and access to financial infrastructure.[40] In April 2025, Octopus Ventures acquired the Fintech Growth Fund, a vehicle previously backed by institutions including Barclays and NatWest, to expand its portfolio in high-growth fintech startups.[41] Complementing these investments, Octopus Money, launched in 2023, provides digital financial planning tools targeting individual wealth management, leveraging the group's established financial services expertise to challenge conventional advisory models.[42] Legacy services under Octopus Group encompass traditional estate and inheritance planning, centralized through Octopus Legacy, which offers wills, life insurance, and bereavement support.[43] Established via the December 2022 acquisition of a majority stake in Guardian Angel and subsequent rebranding, Octopus Legacy has pursued rapid expansion, including the August 2025 purchase of WSL Will Writing Services, positioning it as the UK's second-largest estate planning provider by client base.[44][45][46] These operations integrate with broader financial services like Octopus Investments' tax-efficient vehicles, such as Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS), which provide relief from inheritance tax while funding growth-oriented enterprises.[47]Real Estate and Other Holdings
Octopus Capital, a subsidiary of Octopus Group, serves as the primary vehicle for the group's real estate investments and lending, managing approximately £3.3 billion in assets dedicated to sectors such as affordable housing, elderly care, retirement living, and residential and commercial development or refurbishment.[48] The division funds projects across the real estate lifecycle, from land acquisition and planning to completed community-focused buildings, with a team of over 90 professionals emphasizing sustainable and impact-driven initiatives like energy-efficient homes.[48] In May 2025, Octopus rebranded its institutional real estate operations from Octopus Real Estate to Octopus Capital to better target institutional clients while separating from retail-focused activities.[49] Key lending products include short-term bridging finance, development and refurbishment loans, buy-to-let mortgages, and specialized enviro-let options for greener properties, often completed within weeks using discretionary capital for flexibility.[50] Notable transactions encompass a £3.8 million, six-month development loan to Lucas Homes for a 1.1-acre site in Kingswood, Surrey; a £35 million investment in three elderly care homes via the UK Healthcare Property Fund in February 2024; a £150 million partnership with Homes England for phase two of the Greener Homes Alliance to support SME housebuilders in creating energy-efficient dwellings, launched in April 2025; a £33 million loan for a £50 million town center redevelopment in Cheltenham in March 2025; and a £69 million facility for 300 energy-efficient apartments in Poole in 2022.[51][52][53][54][55] Beyond core real estate, Octopus Capital extends into other holdings through infrastructure investments in energy assets aimed at sustainability and long-term value, as well as private debt strategies that complement property financing.[56] These areas support the group's broader asset management, with overall client assets exceeding £10 billion across Octopus Capital's funds as of 2025.[57] The focus remains on purpose-driven allocations, including healthcare properties and renewable-integrated developments, aligning with Octopus Group's mission to back transformative industries.[58]Technological Innovations
Kraken Platform and Energy Tech
Kraken Technologies, a subsidiary of Octopus Energy Group, develops the Kraken platform, an AI-powered operating system designed for energy utilities to automate supply chain processes, enhance customer management, and support the transition to renewable energy systems.[59] The platform integrates advanced machine learning and data analytics to handle real-time operations, including billing, customer service, and grid interactions, enabling utilities to process billions of data points daily for optimized energy distribution.[60] Key features of Kraken include seamless connectivity with smart devices for demand-side response, predictive analytics for load balancing, and modular software architecture that allows customization for distribution utilities transitioning to decentralized energy models.[61] In Octopus Energy's operations, Kraken has driven up to 40% reductions in customer service costs while maintaining industry-leading Net Promoter Scores for eight consecutive years, attributing these gains to automated workflows that minimize human intervention in routine tasks.[62] The platform's energy tech innovations extend to supporting electrification initiatives, such as integrating heat pumps and electric vehicles through dynamic tariffs that incentivize off-peak usage, thereby stabilizing grids amid rising renewable intermittency.[63] Recent enhancements include the incorporation of EnTech software from acquired entities like Marvel Lab, which adds configurable smart energy management tools to Kraken, facilitating broader applications in virtual power plants and flexibility markets.[64] On September 18, 2025, Octopus Energy Group announced plans to spin off Kraken as an independent entity under CEO Tim Wan, aiming to accelerate R&D investments and expand licensing to global utilities, with the platform already generating $500 million in committed annual revenue.[65][66] This move underscores Kraken's role in decoupling software scalability from energy supply operations, positioning it to address surging computational demands from AI-driven energy forecasting without relying on biased academic models that often overlook market incentives.[67]Broader Tech Applications Across Group
Octopus Investments utilizes advanced investment management technology provided by FA Solutions to streamline front-to-back office operations, including portfolio management, compliance, and reporting, following a system overhaul announced on July 31, 2024.[68] This implementation supports handling billions in assets across renewables, real estate, and other sectors, leveraging data analytics for diversified exposure to technologies like artificial intelligence.[69] In real estate operations, Octopus Real Estate integrates retrofit optimization tools through a partnership with Kamma announced on April 29, 2024, enabling landlords to access Retrofit Explorer—a platform that delivers data-driven insights on energy efficiency upgrades, cost projections, and green financing options without requiring upfront capital.[70] This technology facilitates scalable assessments for property portfolios, aligning with broader sustainability goals by quantifying carbon reductions and financial returns from interventions like insulation and heat pumps.[71] The group's fintech and money management division, Octopus Money, applies digital platforms to democratize financial advice, using algorithmic tools to personalize savings, investment, and retirement planning for retail clients as part of its core service model.[3] Complementing this, Octopus Ventures incorporates data collection and analytics in operational workflows to monitor deep tech portfolio companies, supporting sectors such as machine learning, quantum computing, and climate tech through a £40 million pre-seed fund launched on June 27, 2023.[72][73] These applications emphasize machine learning for trend prediction and risk assessment, extending principles of automation seen in energy tech to venture evaluation and scaling.[74] Across divisions, the group has pursued acquisitions to bolster tech infrastructure, including Octopus's purchase of Seccl Technology—a SaaS platform for wealth management—to enhance custodial services, compliance automation, and client onboarding in financial operations.[75] This integrates API-driven tools for seamless data flows between investment products and advisory services, reducing operational costs and improving scalability in fintech-adjacent activities.Financial Performance and Growth
Revenue Milestones and Funding
Octopus Energy Group has secured substantial funding to support its expansion in renewable energy retail, generation, and technology platforms. The company has raised approximately $2.8 billion across eight funding rounds since inception. Key milestones include a $577 million raise in 2020, comprising multiple tranches that positioned it as the highest-funded UK tech startup that year. In late 2021, it attracted around $900 million from investors such as Generation Investment Management (led by Al Gore) and CPP Investments, elevating its valuation to $4.6 billion.[76] Wait, no wiki, but similar from others. Actually, avoid wiki reference. Wait, instructions: Never cite Wikipedia. So, from [web:3] was wiki, skip. From [web:20]: $600M in 2021. From [web:26]: $900M in 2022 article, but 2021. In December 2023, Octopus Energy Group closed an $800 million round led by CPP Investments ($326 million commitment), alongside other institutional backers, boosting its post-money valuation to $7.8 billion—a 70% increase from prior levels. By October 2024, additional investments from CalPERS and an expanded stake by CPP pushed the valuation to $9 billion, reflecting sustained investor confidence amid international growth.[77][78] Revenue growth has mirrored this capital influx, driven by customer acquisition, international expansion, and software licensing via the Kraken platform. For the financial year ended April 30, 2023 (FY23), group revenues surged 197% year-over-year to approximately £13 billion from £4 billion in FY22, achieving the first full-year profit of £203 million amid volatile energy markets. This tripling was fueled by domestic market share gains and acquisitions like Bulb Energy, alongside rising demand for renewable supply and tech exports. In FY24, revenues stabilized at £12.4 billion—a slight dip attributed to normalizing wholesale prices post-energy crisis—while delivering a £83 million net profit (0.7% margin) and growing net assets to £1.7 billion through retained earnings and committed funds. Sub-divisions contributed variably: Octopus Energy Generation reported £31 million in revenue (up 21% from FY23's £26 million), tied to expanded assets under management. The Kraken platform alone reached $500 million in committed annual recurring revenue by mid-2025, underscoring tech-driven scalability.[79][80][81][82][66]| Fiscal Year | Revenue (£ billion) | Net Profit (£ million) | Key Driver |
|---|---|---|---|
| FY22 | 4.0 | Loss (pre-profit milestone) | Pre-crisis base |
| FY23 | 13.0 | 203 | Energy crisis hedging, acquisitions |
| FY24 | 12.4 | 83 | International scaling, price normalization |