Newcastle-based One Utility Bill raises £650,000 to streamline household bills
Founded in 2014, the billing platform for tenants, landlords, and letting agents will use the investment for national growth and to accelerate its tech stack
One Utility Bill, a proptech start-up that wants to help generation rent by simplifying the utility billing process, has raised £650,000 in seed funding.
Backed by Jeremy Middleton CBE of Middleton Enterprises, with principal investment from Pi Labs, the Newcastle-based start-up bundles gas, electricity, water, internet, media subscriptions and TV licenses into one user-friendly monthly bill, enabling its users to split bills with ease while never having to speak to a utility provider again.
Founded by Chris Dawson and Dale Knight, who met on a Newcastle University incubator programme, One Utility Bill has grown to 25 employees and 10,000 customers across the UK.
Nearly 400 letting agents use One Utility Bill’s Bills Inclusive and Notify products, and the company has also secured partnerships with Sky TV & Broadband, Virgin Media, Octopus Energy, Spark Energy and others.
Looking to have 41 employees by 2019, the protech start-up will use the fresh investment for national growth and to accelerate its tech stack.
Middleton Enterprises first invested in One Utility Bill in 2016 and have sat on the board ever since, while the deal marks London-based Pi Labs' first investment outside of the capital.
Chris Dawson, co-founder of One Utility Bill, said:
“Paying for and splitting utilities bills is a source of needless frustration for tenants and homeowners up and down the country.
“One Utility Bill’s mission is to remove these unnecessary pain points, and we’re looking forward to expanding our product offering and customer base this year with the support of our investors.”
Brett Rogers, investment manager at Middleton Enterprises, said:
“One Utility Bill has demonstrated impressive growth since 2016, with thousands of new tenants and letting agencies signing up to the platform. We’re delighted to be following on our initial investment into One Utility Bill by leading this seed round.”
Dominic Wilson, co-founder and managing partner at Pi Labs, said:
“One Utility Bill is a genuine success story for the Newcastle tech ecosystem.
“This seed round represents Pi Labs’ first investment into a UK property tech startup outside of London: we are looking forward to supporting One Utility Bill on their ambitious growth trajectory for 2018, and are currently planning further investment into the UK’s regional tech ecosystems in the near future.”