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.”