Shared 19 May, 2025
Macquarie Specialised and Asset Finance, part of Macquarie Group’s Commodities and Global Markets business, has signed an agreement with Iberdrola for the purchase of its UK smart meters business, SP Smart Meters Asset Limited (SPSMAL) for approximately £900 million (approximately €1,060 million)
The acquisition will add around 2.7 million meters to Macquarie’s portfolio in the UK, meaning it will manage over 13 million meters nationwide. Macquarie is currently one of the largest independent MAPs in the UK. Established in 2003 its meters business currently manages over 10 million meters in total, including 7.9 million smart meters and 2.5 million traditional meters, across Great Britain. It has also provided over £1.5 billion of funding to assist with Britain’s smart meter rollout.
Julian Liddy, Senior Managing Director, Macquarie Specialised and Asset Finance, said: “Having played an active role in the roll out of more than 7.5 million smart meters to British households and businesses, this transaction provides an opportunity for us to add further scale and continue to drive progress towards UK government targets and bring benefits to British electricity and gas consumers. We are pleased to be taking ownership of a business with a track record of strong performance under the management of Scottish Power and look forward to supporting its further growth.”
At the end of 2024, 38 million smart meters had been installed in British homes and small businesses under the Smart Metering Implementation Programme, led by the Department for Energy Security & Net Zero, regulated by the Office of Gas and Electricity Markets, and delivered by energy suppliers.
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BuiltAPI GmbH, the company pioneering API-driven data infrastructure for real estate investment and asset management, has successfully closed its latest funding round backed by industry leaders including Second Century Ventures, TDS, and Propertymark. The investment marks a major milestone as BuiltAPI expands its services across Europe and the UK, following its graduation from the REACH UK Accelerator Program.
BuiltAPI tackles one of the real estate sector’s most persistent problems: fragmented, siloed data ecosystems. The company provides a robust API framework that enables seamless connectivity between legacy systems, modern SaaS tools, and intelligent automation platforms — with interoperability, governance, and cybersecurity at its core.
“We’re building the backbone of real estate data infrastructure,” said Olga Dentzel, Co-Founder of BuiltAPI. “This funding and the support of the REACH UK program are accelerating our ability to deliver secure, scalable integrations to clients across borders.”
BuiltAPI’s technology is already making an impact with major real estate institutions such as HIH Real Estate and its fund service platform INTREAL, through their digital unit INTREAL Solutions. These collaborations highlight a shared vision for practical and scalable digital transformation in real estate asset and investment management.
“The industry doesn’t need yet another tool — it needs a connective tissue,” added Ivan Nokhrin, Co-Founder of BuiltAPI. “Our mission is to empower real estate professionals to access, share, and act on their data securely and without barriers.”
Graduation from the REACH UK Accelerator — the scale-up program backed by Second Century Ventures – marks BuiltAPI’s official entry into the UK market. The program has played a key role in unlocking investors support and refining BuildAPI’s growth trajectory.
BuiltAPI GmbH, the company pioneering API-driven data infrastructure for real estate investment and asset management, has successfully closed its latest funding round backed by industry leaders including Second Century Ventures, TDS, and Propertymark. The investment marks a major milestone as BuiltAPI expands its services across Europe and the UK, following its graduation from the REACH UK Accelerator Program.
BuiltAPI tackles one of the real estate sector’s most persistent problems: fragmented, siloed data ecosystems. The company provides a robust API framework that enables seamless connectivity between legacy systems, modern SaaS tools, and intelligent automation platforms — with interoperability, governance, and cybersecurity at its core.
“We’re building the backbone of real estate data infrastructure,” said Olga Dentzel, Co-Founder of BuiltAPI. “This funding and the support of the REACH UK program are accelerating our ability to deliver secure, scalable integrations to clients across borders.”
BuiltAPI’s technology is already making an impact with major real estate institutions such as HIH Real Estate and its fund service platform INTREAL, through their digital unit INTREAL Solutions. These collaborations highlight a shared vision for practical and scalable digital transformation in real estate asset and investment management.
“The industry doesn’t need yet another tool — it needs a connective tissue,” added Ivan Nokhrin, Co-Founder of BuiltAPI. “Our mission is to empower real estate professionals to access, share, and act on their data securely and without barriers.”
Graduation from the REACH UK Accelerator — the scale-up program backed by Second Century Ventures – marks BuiltAPI’s official entry into the UK market. The program has played a key role in unlocking investors support and refining BuildAPI’s growth trajectory.
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