triPica Receives 12.4 Million Euros for the Digital Energy Transition

The Paris-based technology company triPica has received 12.4 million euros in funding from TiLT Capital Partners. The investor, which specializes in the energy transition, is part of the French Siparex Group. With the additional capital, triPica plans to expand its business with energy providers in Europe, further develop its software platform, and increase its workforce.

Founded in 2016 by Mathieu Horn, Walid Bounar, and Christophe Ruzé, the company develops a cloud-based platform for customer management and billing. The software is designed for energy utilities and telecommunications companies that want to introduce new rates and services more quickly and streamline their administrative processes.

A key focus is on the European energy market. With the increasing prevalence of renewable energy, dynamic electricity rates, and electric mobility, the demands on utilities’ billing systems are growing. However, many companies continue to use older IT solutions that were originally developed for a limited number of standardized rate models.

As a result, new offerings can often only be integrated with significant development effort. This applies, for example, to time-dependent electricity prices, self-consumption models for solar systems, or special rates for charging electric vehicles.

Cloud Platform Aims to Enable New Energy Offerings Faster

triPica aims to overcome these technical limitations with a unified software platform. The solution combines customer relationship management (CRM) with functions for contract management, billing, payment processing, and customer service.

This allows energy providers to map different business processes within a single system, rather than operating multiple separate applications.

According to the company, this allows new products and rates to be introduced within a few weeks rather than after several months. Technical flexibility can be a competitive advantage, particularly for dynamic pricing models and usage-based offers.

Another key focus is the replacement of existing IT systems. Many utilities have built up extensive customer data, contract information, and billing histories over the years. A switch to a new platform is therefore complex and involves operational risks.

According to triPica, the company has developed processes that allow these data sets to be transferred to the new infrastructure while operations continue.

The company is already collaborating with energy providers in France, Germany, and Italy. Among its clients are Primeo Energie and Gaz Européen.

In addition, triPica operates internationally in the telecommunications market. Its customers include Bouygues Telecom, Digicel, and CelcomDigi, among others.

The experience gained in this industry is also expected to benefit the energy business. In telecommunications, usage-based billing, flexible rate plans, and bundled product offerings have been common for quite some time.

Expansion Planned in Germany and Italy

With the new financing, triPica primarily aims to expand its presence in the German and Italian energy markets. Other European countries are set to follow.

At the same time, the international telecommunications business remains a key component of the company’s strategy.

Another portion of the investment will go toward developing AI-powered features. These are intended to automate repetitive tasks in billing and customer service, thereby reducing processing times.

triPica also plans a significant expansion of its workforce. The company currently employs around 100 people and aims to double its team as part of its next phase of growth.

Energy providers are not short on ideas. What’s holding them back are customer and billing systems that were developed for a market that no longer exists.

Mathieu Horn, CEO and Co-Founder of triPica

Investor TiLT Capital Partners sees the digital transformation of utility companies, in particular, as a prerequisite for the continued energy transition. After all, new energy offerings can only realize their full potential if they can be managed and billed reliably from a technical standpoint.

TiLT manages a fund with a volume of 340 million euros and currently supports eleven European growth companies. Since 2021, the investment firm has been part of the Siparex Group as a specialized energy transition platform.

With this funding, triPica aims to strengthen its position as a European software provider for energy and telecommunications companies. Whether the platform can continue to hold its own against established CRM and billing systems will depend, in particular, on its successful expansion and the integration of additional AI features.