One Utility Bill secures 1.6m pounds in Series A follow-on funding from DSW Ventures and Northstar Ventures
The Newcastle-based utility platform has raised a follow-on investment led by DSW Ventures and Northstar Ventures to scale operations and enhance technology.
Newcastle-based company that consolidates household utilities into a single monthly payment for consumers, landlords, and letting agents.
One Utility Bill has secured 1.6m pounds in a series a follow-on funding round led by DSW Ventures and Northstar Ventures. The Newcastle-based utility management platform will direct the capital towards scaling its operational capacity, advancing its proprietary technology, and expanding its workforce with over 40 new appointments. This transaction marks the company's second raise within a 12-month period, bringing its cumulative funding to approximately 5m pounds.
The business manages an annual utility value exceeding 15m pounds across thousands of UK households. The latest injection follows a resilient performance through challenging market conditions, outperforming expectations set during previous funding rounds.
From the founder
"We’re delighted to raise this follow-on round from our investors, our second investment in a challenging but very rewarding 12-month period. This is a huge vote of confidence in our business and reflects the incredible progress that the One Utility Bill team has achieved over the last 12 months. We’ll be using the funds to further accelerate our customer growth and invest in our technology."
Chris Dawson
CEO at One Utility Bill
Investor perspective
"When we first invested during the first lockdown in 2020, we were very confident in the resilience of the One Utility Bill business and the team’s capability to navigate the crisis. They have substantially exceeded our expectations – growing the business significantly, increasing automation and creating a compelling proposition for its customers."
Keith Benson
founding partner, DSW Angels
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
One Utility Bill
Simplifying household utilities and billing administration for tenants and landlords.