Thermondo
Thermondo GmbH is Germany's largest digital-first heat pump installer, serving residential homeowners with end-to-end heat pump installation, PV-solar bundles, IoT-based thermondo smart energy management, installment financing via special purpose vehicles, and tiered maintenance contracts across Germany.
- Company typePrivate
- Founded2013
- HeadquartersBerlin, Germany
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Thermondo does
Thermondo GmbH is Germany's largest digital-first heat pump installer, founded in 2013 and headquartered in Berlin, serving residential homeowners transitioning from gas or oil heating to electric heat pumps. The company operates a vertically integrated model combining proprietary digital sales software with a national field force of more than 600 permanently employed tradespeople (Handwerker) and over 1,200 total employees across Germany. Since founding, Thermondo has served more than 55,000 customers, installed over 9,000 heat pumps, and built a Trustpilot rating of 4.4 out of 5 from 18,809 reviews under its self-described "Deutschlands Nr. 1" market positioning.
The product portfolio centers on residential heat pump installation (air-to-water and hybrid) priced from approximately €9,000 after government subsidies, with bundled PV-solar packages starting at €11,499 designed to cover more than 30 percent of heat pump electricity demand from on-site solar. The technology stack includes a proprietary online Heizungsplaner (heating planner) that produces itemized fixed-price quotes from customer property inputs, a service portal, and the thermondo smart home energy management system, an IoT platform comprising a hardware Gateway installed in the heat pump control cabinet, iOS and Android apps, and a web portal integrating heat pumps with PV systems, battery storage, EV chargers, and dynamic electricity tariffs for automated energy optimization. Recurring revenue streams include tiered maintenance contracts (Basis, Komfort, Premium) across Buderus, LG, and t1 heating brands, plus paid software module subscriptions within the thermondo smart ecosystem.
The business model combines project-based installation revenue with recurring service and software subscriptions and a financing offering called thermondo flex, which uses dedicated special purpose vehicles (Thermondo Energy GmbH through Sechs GmbH) to provide installment payment plans. A €50 million debt facility from an international partner bank was secured in July 2025 to support thermondo flex, expected to enable approximately 1,600 additional heat pump installations. Distribution is direct-to-consumer via thermondo.de with inside sales support through phone, WhatsApp, and an Intercom Fin AI Agent chatbot. In 2024, the company acquired FeBeSol GmbH for approximately €20 million, financed by Kommunalkredit Austria, adding solar and storage installation capabilities across multiple German states.
Thermondo firmographics
Firmographics- Name
- Thermondo
- Legal name
- Thermondo GmbH
- Website
- https://thermondo.de
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Thermondo GmbH is Germany's largest digital-first heat pump installer, serving residential homeowners with end-to-end heat pump installation, PV-solar bundles, IoT-based thermondo smart energy management, installment financing via special purpose vehicles, and tiered maintenance contracts across Germany.
- Ownership category
- akta.pro rank
Thermondo industry classification
Industry- Product category
- Residential Heating Installation
- NAICS
- Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)
- SIC
- Auto Controls For Regulating Residential & Comml Environments (3822), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)
- akta.pro primary industry
- Residential HVAC System Installation (Furnace/AC/Heat Pump) (HSAOAGAA)
- akta.pro secondary industries
- Smart Thermostat & HVAC Automation Integration (HSAHADAC), Thermostat Repair, Calibration & Controls Service (HSAOAHAI), Smart Thermostat Installation & Integration (HSAOANAA), Heat Pump Repair & Maintenance (HSAOAHAD)
Keywords
Where Thermondo is headquartered
LocationHeadquarters
- HQ city
- Berlin
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
Thermondo business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Heat Pump Sales & Installation: One-time sale and installation of heat pumps (air-to-water, hybrid, etc.) for residential homeowners in Germany. Revenue from equipment, installation labor, and ancillary components. Includes PV bundle packages combining heat pump with solar panels and battery storage. Pricing starts at approximately 9,000 EUR after government subsidies; PV bundles start at 11,499 EUR.
- Maintenance Contracts: Recurring annual maintenance contracts (thermondo Care / Wartungsvertrag) for installed heat pumps. Packages include Basis (basic), Komfort (with materials and one fault callout), and Premium (with materials and up to three fault callouts), as well as t1.comfort and t1.premium tiers. Storage and solar thermal add-ons available. Billing is annual at the start of each contract year for Komfort/Premium; billed after on-site visit for Basis.
- thermondo smart Software & Hardware: Sale of thermondo smart Gateway hardware (one-time purchase) combined with a software subscription for the home energy management system. Basic monitoring is free; additional optimization modules (Funktionsbausteine) are available as paid monthly subscriptions. Customers can add modules like smart heat pump control via the app/web portal.
- thermondo flex (Installment Financing): Customer installment payments for heat pump installations facilitated through special purpose vehicles. Thermondo receives upfront payment from the SPV financing, with customer payments used for SPV repayment. Not a direct revenue stream from financing, but enables higher average transaction values by reducing upfront cost barriers.
- Fördermittelservice (Subsidy Advisory): Government subsidy advisory and application service (Fördermittelservice) helping customers secure up to 70% state funding (KfW/BAFA) for heat pump installations. The service is bundled with installation packages, potentially increasing effective deal size and customer conversion.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Heat pump installation starting from €9,000 after subsidies (full cost before subsidies higher) |
| Unit Pricing | Pay-as-you-go | PV Bundle (Wärmepumpe + Photovoltaik) starting from €11,499 |
| Subscription | Monthly | thermondo flex installment financing enabling ~1,600 installations without high upfront costs |
| Subscription | Annual | Maintenance contract tiers: Basis, Komfort, Premium for various heat pump brands (Buderus, LG) and gas/oil systems |
| Freemium | Monthly | thermondo smart: free basic monitoring, paid optimization modules |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels10 records
Thermondo product offering
Product offeringCore offering
Thermondo is a Berlin-based digital heating installer that sells, plans, finances, installs, and maintains heat pump systems (air-to-water and hybrid) for German residential homeowners. The bundled service includes proprietary online fixed-price quoting, government subsidy advisory (KfW/BAFA, up to 70% funding), in-house installation by employed tradespeople, optional PV bundles, the thermondo smart IoT home energy management system, and tiered maintenance subscriptions.
Product overview
Thermondo operates as a digital heating installer offering a modular product portfolio centered on heat pump installations with integrated energy management capabilities. The core product is the Wärmepumpe (heat pump) installation service, which can be enhanced with Photovoltaik (PV) bundle packages combining solar generation with heating. The thermondo smart energy management system adds intelligent monitoring and optimization for connected devices. Additional services include dynamic electricity tariffs, financing programs (thermondo flex), full cost calculations, installation, subsidy assistance, and comprehensive maintenance packages (thermondo Care for Buderus, and tiered packages for LG, Gas/Öl, and t1 systems). The company also acquired FeBeSol GmbH to strengthen its solar and storage installation capabilities.
Differentiator
Problem solved
Functional benefit
Brands
- thermondo smart: Energy management system for heat pumps that monitors energy consumption and optimizes electricity usage.
- thermondo flex
- thermondo flex Programm
Products and services
- Heat Pump Installation (Wärmepumpe) End-to-end installation of air-to-water and hybrid heat pumps for German residential homeowners, including site survey, equipment supply, installation by employed tradespeople, and commissioning. Indicative pricing starts from EUR 9,000 after government subsidies.
- Heat Pump + Photovoltaic Bundle (PV-Komplettpaket) Bundled package combining a heat pump with photovoltaic solar panels and storage to cover more than 30% of heat pump electricity needs from on-site solar. Installed by FeBeSol (acquired 2024). Starting from EUR 11,499.
- thermondo smart Home Energy Management System IoT-based home energy management system comprising a hardware Gateway installed in the heat pump control cabinet, a smartphone app (iOS/Android) and web portal. Monitors energy consumption and optimizes operations using electricity prices, weather data, and local PV generation. Integrates with PV, battery storage, EV chargers, and other energy components. Basic monitoring is free; paid optimization modules available via monthly subscription.
- Heat Pump Maintenance Contracts (thermondo Care) Recurring annual maintenance subscription for installed heat pumps. Three tiers (Basis, Komfort, Premium) available across brands (Buderus, LG) and system types including gas/oil and t1 systems. Optional add-ons for storage and solar thermal maintenance. Includes remote monitoring for connected units.
- Government Subsidy Advisory (Fördermittelservice) Advisory and administrative service bundled with installation packages to help residential customers apply for and secure KfW/BAFA government subsidies covering up to 70% of installation costs (up to EUR 21,000 per installation).
- thermondo flex Installment Financing Customer installment financing for heat pump installations, enabled by a EUR 50M debt facility (July 2025) and structured through dedicated special purpose vehicles (SPVs). Reduces upfront cost barrier for residential customers and supports approximately 1,600 heat pump installations.
Quantifiable outcome
- Up to €21,000 in government subsidies accessible per installation
- +6 more outcomes
Companies that use Thermondo
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Thermondo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
AI capability4 records
Feature6 records
Thermondo partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FeBeSol GmbHcoreFeBeSol is a PV installer operating in several German states, installing solar, storage, and energy management systems. Acquired by Thermondo in 2024 for EUR 20 million. FeBeSol installations are referenced as the quality leader for PV bundle installations by Thermondo. FeBeSol data is also shared with Thermondo for newsletter communications when customers consent.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Thermondo competitors and assessment
Company assessmentBroad incumbents
- Bosch Thermotechnik (Buderus): Bosch Thermotechnik manufactures Buderus and Bosch heat-pump brands that Thermondo installs; a major incumbent with both OEM and direct installer presence in the German residential heating market.
- Viessmann (Carrier Climate Solutions): Viessmann, now part of Carrier, is a major German heat-pump and heating-system manufacturer; overlapping in installed equipment and increasingly competing in residential installation services.
- Stiebel Eltron: Stiebel Eltron is one of Germany's leading heat-pump manufacturers with a strong installer-partner network; comparable through its residential heat-pump focus and brand presence in the German market.
- Vaillant: Vaillant is a large German/EU heating manufacturer (heat pumps, gas, hybrid) with its own installer network; comparable incumbent competing in the same residential heat-pump replacement market.
- Daikin: Daikin is a global HVAC and heat-pump leader with a strong German presence and growing installer partnerships; relevant incumbent due to its heat-pump equipment overlap and channel positioning.
- Wolf (Ariston Group): Wolf, now part of Ariston Group, manufactures heating and heat-pump systems in Germany; comparable incumbent in residential heating-system replacement and installer services.
- E.ON: E.ON is a major German utility with a growing residential heat-pump installation business and is also a historical investor in Thermondo; competing incumbent with deep balance-sheet and customer-acquisition advantages.
Direct peers
- Enpal: Enpal is Germany's leading solar leasing company that has expanded into heat pump installation with a similar digital, subscription-based homeowner GTM. Direct overlap with Thermondo in residential heat-pump and PV bundling.
- 1Komma5°: 1Komma5° is a German one-stop-shop for residential heat pumps, solar, EV charging, and electricity tariffs with a comparable digital platform and employed-installer model. Closest scaled direct competitor to Thermondo.
Regional players
- Otovo: Otovo is a European residential solar and heat-pump installer with operations across multiple European markets; comparable in business model but geographically focused on Northern Europe rather than Germany.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Thermondo social profiles
Digital presenceThermondo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thermondo leadership team
Management profileNumber of profiles
Profiles4 records
Thermondo subsidiaries and ownership
Company hierarchySubsidiaries1 record
Thermondo funding detail
Funding detailFunding overview
Funding rounds9 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thermondo M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Thermondo
What does Thermondo do?
Thermondo is a Berlin-based digital heating installer that sells, plans, finances, installs, and maintains heat pump systems (air-to-water and hybrid) for German residential homeowners. The bundled service includes proprietary online fixed-price quoting, government subsidy advisory (KfW/BAFA, up to 70% funding), in-house installation by employed tradespeople, optional PV bundles, the thermondo smart IoT home energy management system, and tiered maintenance subscriptions.
Is Thermondo a public or private company?
Thermondo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Thermondo founded?
Thermondo was founded in 2013. It employs 1,001 to 5,000 people.
Where is Thermondo based?
Thermondo is headquartered in Berlin, Germany, in the Europe region.
How does Thermondo make money?
Five revenue lines are on record. Heat Pump Sales & Installation is the primary driver. The others are maintenance Contracts, thermondo smart Software & Hardware, thermondo flex (Installment Financing) and Fördermittelservice (Subsidy Advisory).
Who are Thermondo's main competitors?
Broad incumbents on record are Bosch Thermotechnik (Buderus), Viessmann (Carrier Climate Solutions), Stiebel Eltron, Vaillant, Daikin, Wolf (Ariston Group) and E.ON. Direct peers are Enpal and 1Komma5°. Otovo is listed as a regional player.
Does Thermondo have an API?
No public API is recorded for Thermondo.
What industry is Thermondo in?
Thermondo's product category is Residential Heating Installation. Its primary akta.pro industry code is HSAOAGAA, Residential HVAC System Installation (Furnace/AC/Heat Pump), with a secondary code of HSAHADAC, Smart Thermostat & HVAC Automation Integration. Its NAICS code is 33341 and its SIC code is 3822.