Newcastle-based One Utility Bill, a PropTech company which seeks to facilitate the billing process for tenants, landlords and letting agents, has raised £650,000.
The funding was led by Middleton Enterprises with participation from Pi Labs and will be used to bolster the firm’s national growth and accelerate its tech stack.
Set up in 2014, One Utility Bill bundles gas, electricity, water, internet and media subscriptions and TV licenses into one monthly bill, allowing consumers to split these without having to contact a utility provider.
The startup was co-founded by Chris Dawson and Dale Knight, who met on a Newcastle University incubator programme.
Chris Dawson, co-founder 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, added: “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.”
“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,” concluded Dominic Wilson, co-founder and managing partner at Pi Labs.