Apollo VCT company stories: Switchee
Created a smart thermostat designed specifically for landlords to offer real-time data and actionable insights.
What Switchee does
Switchee is a B Corp founded in 2015 with the aim to improve the lives of people living in rented homes. It created a smart thermostat designed specifically for landlords to offer real-time data and actionable insights. It provides tens of thousands of high-tech devices to over 130 social housing providers, helping keep homes warm, safe and sustainable for residents. This includes helping identify and prevent mould in homes, lowering heating bills and improving communications between residents and providers through a two-way platform.
Why we like it
Apollo’s investment will further accelerate Switchee’s growth and see the business remain on the trajectory to be installed in 1 million UK social homes. The company will continue to invest in research and development and look to cut its environmental impact.
Key risks to remember
Please remember that the value of an investment in Octopus Apollo VCT, and any income from it, can fall as well as rise. Investors may not get back the full amount they invest.
Tax treatment depends on individual circumstances and may change in the future. Tax reliefs depend on the VCT maintaining its qualifying status.
VCT shares could fall or rise in value more than shares listed on the main market of the London Stock Exchange. They may also be harder to sell.
Investors should only subscribe for shares on the basis of information contained in the prospectus supplementary prospectus, AIFMD supplement and Key Information Document (KID), available on the Apollo VCT product page.