Quatt Secures €25M to Propel Ambitious Smart Heat Pump Deployment by 2030
Amsterdam-based technology scale-up Quatt, specializing in hybrid heat pumps, has announced the successful acquisition of €25 million in a growth equity funding round. The round was led by Blue Earth Capital, with additional participation from Seaya Andromeda and existing investor Impact Equity Fund.

Amsterdam-based technology scale-up Quatt, specializing in hybrid heat pumps, has announced the successful acquisition of €25 million in a growth equity funding round. The round was led by Blue Earth Capital, with additional participation from Seaya Andromeda and existing investor Impact Equity Fund.
The announcement comes on the heels of two years of rapid growth for the Dutch company, during which it has installed over 7,500 smart heat pumps throughout the Netherlands. This funding will be pivotal in accelerating new product development and international expansion for Quatt. Last year, the company raised €1.5 million through Duurzaam Investeren.
Marijn Flipse, CEO and co-founder of Quatt, emphasized the increasing adoption of their heat pump in the Netherlands due to its quick payback period. "Due to its quick payback period, more and more Dutch people are opting for our heat pump," Flipse stated. He further noted that Quatt has established a leading position in the heat pump market within just three years, thanks to their consumer-centric approach, smart software, and attractive design. "By focusing on product development, sales, and installation all in-house, we deliver an excellent customer experience at a very competitive price. This is now recognized by international investors as well," Flipse added.
Quatt’s Mission for Fossil-Free Heating by 2030
Founded by brothers Flipse and Marijn Flipse in 2021, Quatt aims to install 3 million Quatt heat pumps by 2030. The company develops, manufactures, and installs the Quatt Hybrid, a hybrid heat pump powered by smart software. Recently, Quatt introduced two new add-ons to the Hybrid: the "All-Electric" heat pump and the patented cooling system "Chill."
The Amsterdam-based scale-up asserts that its hybrid heat pump can reduce gas bills by up to 80% compared to a traditional central heating boiler. Importantly, these hybrid heat pumps do not require any additional changes to the home, as the existing boiler remains active to produce domestic hot water and support the pump when it cannot meet heating demand.
The hybrid heat pump is controlled by self-learning software, allowing for a more efficient and cost-effective heating solution. Quatt claims that its platform offers prices that are 30-50% lower than traditional hybrid heat pumps, due to a shortened supply chain and efficient installations. Since both the heat pump and the controlling software are developed in-house, Quatt aims to continuously improve the system to maximize CO₂ and cost savings for its customers.
Flipse highlighted the importance of sustainable energy transition in Europe over the next decade. "Over the next 5-10 years, Europe will need to take significant steps in transitioning the built environment to sustainable energy. We aim to make sustainable homes accessible to everyone while reducing energy costs. We look beyond just the heat pump and Dutch borders," he said.
Support from Impact Investors
Blue Earth Capital, a global, independent specialist impact investor, led the funding round. The firm is dedicated to addressing some of the world's most pressing social and environmental challenges through dedicated private equity, private credit, and fund solutions.
Carlos Fisch, partner and co-head at Seaya Andromeda, emphasized the strategic importance of Quatt’s modular system in the energy transition. He remarked, "Quatt’s modular system will play an important role in the energy transition. Consumers can gradually switch to sustainable energy. From this winter, Quatt’s hybrid heat pump can be upgraded to a fully electric pump, and in the spring of 2025, they will launch Chill, a unique air conditioning system that cools using the existing heat pump. With this product roadmap, we believe Quatt can become a category leader. We are looking forward to supporting the team with their efforts to expand in Europe."
Randolf Nijsse, founder of Impact Equity Fund, pointed out the user-friendly nature of Quatt’s products. He stated, "The ease of purchase is crucial for success and impact on the energy transition. Quatt’s products are low-threshold, making them distinctive in this market."
As Quatt continues to innovate and expand, the company’s efforts to accelerate the transition to fossil-free heating systems are expected to have a significant impact on both the energy market and the environment in Europe and beyond.