Dragons’ Den ‘best deal’ enterprise offered for £12.5million

A enterprise hailed because the “best cash-to-equity deal” in Dragons’ Den history has continued to thrive.

Look After My Bills secured a £120,000 investment and the backing of two dragons for 3 p.c of the enterprise, in 2018.

Less than 12 months later, the automated gasoline and electrical energy change firm offered to the group behind GoCompare.com, in a deal price £12.5million.

Co-founders Will Hodson and Henry De Zoete appeared on the favored BBC present to plug their enterprise, initially asking for £90,000 for a one p.c stake.

Their enterprise was aimed toward saving customers cash on their power payments by robotically switching them to one of the best deal.

READ MORE: British Gas has reopened its energy debt grants fund – and anyone can apply

The duo had 15,000 prospects once they entered the den, proving there was a marketplace for their companies.

By the time Tej and Jenny visited the group at their Vauxhall workplace in December 2018, they’d reached 80,000 customers. This had expanded to 100,000 customers in 2019.

The group now gives on its web site a spread of worth comparability companies for power offers, in addition to cell and broadband, bank card and journey insurance coverage and reductions.

Express.co.uk contacted the corporate for an replace and obtained an automatic e mail to say the group is “currently not supporting energy autoswitching”.

The e mail stated: “This means that even when there are cheaper deals available we won’t be switching your energy deal automatically; you are in complete control of your energy account and we won’t be initiating or managing any switches for you even when more competitive tariffs return.

“Despite this, please note that we have other products for you to make a great saving with such as broadband, mobiles, credit cards or travels.”

Dragons’ Den is offered to view on BBC iPlayer.

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