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iWell is a Dutch clean energy company specializing in intelligent modular battery storage systems for real estate investors, housing corporations, SMEs and industrial customers. Its solutions help customers optimize energy consumption, reduce grid dependency and accelerate the energy transition. To meet growing market demand, iWell launched Cube-as-a-Service, a leasing model that enables customers to benefit from battery storage without upfront capital investment.
Cube-as-a-Service had already proven its market fit, with strong customer demand and a compelling value proposition. The next challenge was enabling the model to scale sustainably.
As demand accelerated, financing projects directly from iWell's balance sheet began limiting growth capacity. At the same time, the company wanted to strengthen shareholder value, streamline operational processes, optimize legal and contractual frameworks, and establish funding partnerships that would reduce balance-sheet exposure. Faster access to funding and quicker revenue recognition also became critical priorities for supporting rapid expansion.
Black Winch worked alongside iWell to strengthen the commercial and financial foundations of Cube-as-a-Service, making the model more scalable, attractive to investors and easier to operate as volumes increase.
- Strategy
We assessed the existing service model and developed a roadmap for scaling Cube-as-a-Service through funding structures aligned with iWell's long-term growth ambitions. The focus was on creating a repeatable model capable of supporting increasing deployment volumes.
- Funding
We reviewed the existing contractual framework, evaluated cooperation structures with financing partners, and designed an approach that would enable more off-balance-sheet financing. We also developed a comprehensive funding communication package to support investor discussions and accelerate the onboarding of new funding partners.
- Finance
Our work focused on reducing balance-sheet constraints while improving the company's ability to finance future projects more efficiently. By supporting a more scalable funding architecture, iWell could pursue growth without proportionally increasing capital requirements.
- Operations
We assessed back-office processes and contractual workflows to improve operational efficiency and reduce administrative complexity. The resulting framework provides a stronger operational foundation for managing larger project volumes while facilitating collaboration between iWell and external funding partners.
"Phase 1 of our project with Black Winch has given us insights in how we can improve our processes. It will help us be ready for scaling our leasing proposition as soon as possible." - Harm Welleweerd, CEO
Whether you're launching an Energy-as-a-Service, Equipment-as-a-Service or any other recurring business model, scaling successfully requires more than customer demand. The right funding structure, contractual framework and operational processes are essential to unlock sustainable growth without putting unnecessary pressure on your balance sheet.
Get in touch with Black Winch to explore how we can help you build a scalable, fundable and profitable service model.
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