In the press / One Utility Bill secures a further £1.6m investment

Spotlight on One Utility Bill

One Utility Bill secures a further £1.6m investment

We’re delighted to share that we’ve raised a further £1.6m. The follow-on

investment round was led by incumbent investors DSW Ventures, the venture capital

business of the Dow Schofield Watts group, alongside the North East Innovation Fund,

supported by the European Regional Development Fund and managed by Northstar

Ventures.


The latest investment, which takes the funding raised to date by the business to circa £5m,

will allow it to improve scale and efficiency, further enhance its technology and create over

40 new roles in the North East in the next year.


Inspired by CEO Chris Dawson’s experience in rented accommodation, One Utility Bill

consolidates household bills into one simple monthly payment, provides customers with a

unified front-line support service and allows costs to be split between housemates. The

company - which was founded by Chris and Dale Knight in 2015 – now manages energy,

water, broadband, and media with an annual value of over £15m on behalf of thousands of

households across the UK.


Chris said: “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.”


DSW Ventures, the UK-regional focussed venture capital business, extended its investment in

One Utility Bill to £2m. Keith Benson, the founding partner of DSW Ventures, said: “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.”


Ian Richards, director of Northstar Ventures said: “The co-founders impressed us with their

vision and drive from the start, and, having worked with Chris and Dale since 2015, we have

been pleased to see the way they have grown the business. We are delighted to help fund

the business to the next level and look forward to supporting them in scaling up further.”

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