Look After My Bills Net Worth: GoCo Group, the company that owns the Go Compare comparison Website, has acquired the energy switching company Look After My Bills in a deal worth £12.5 million. On the latter show, two entrepreneurs negotiated the best deal in the show’s history, receiving £120,000 in investment from Tej Lalvani and Jenny Campbell in exchange for a 3% stake in the company in 2018.
Look After My Bills, which has garnered more than 150,000 members in less than a year, is a free service that automatically converts gas and electricity clients to a more affordable package when their current contract expires or is terminated by the provider. Look After My Bills’ co-founders, Will Hodson and Henry de Zoete stated: “Look After My Bills is on a mission to ensure that no one is ever taken advantage of again.” We are happy to share that goal with the GoCo Group, which includes some of the most well-known companies in the United Kingdom.
‘Our organizations are united in the notion that making saving more convenient will result in lower bills for everyone, forever.” Why spend hours each year attempting to locate a reasonable price when you can hire an expert to handle all of the bothers for you for free? We’ve had a terrific ride because we’ve put together a fantastic team of energy experts and created a culture that will not tolerate any of our customers being overcharged.” Joining together with GoCo Group would enable us to further establish Look After My Bills as a mainstream organization.”
The London-listed company Stated That
the total consideration included £6 million in cash upfront, which was funded by existing resources, as well as £2.5 million in deferred consideration and up to an additional £4 million in performance-based earn-out, for a total potential consideration of £12.5 million. Look After My Bills recently reached the milestone of 130,000 subscribers, and I thought I’d take this time to reflect on why I decided to invest in businesses.
In this piece, I’ll discuss my thoughts on the entrepreneurs, their product, the difficult negotiation, and the moment at which I decided to walk away, but before, watch this video to see the essence of why I invested in Will and Henry: If Look After My Bills achieves its financial goals, its owners could get a further £4 million, for a total of $375,000 in compensation from the Dragons. Henry de Zoete, a former top aide to Michael Gove during his tenure as Education Secretary, founded the company. De Zoete, 38, went on to work as the digital director for the Leave campaign, which was successful in winning the Brexit referendum.
Consider My Bills has 150,000 clients and is being acquired by Gocompare as part of the company’s strategy to expand its footprint in the energy switching sector. Gocompare reported profits of £7.6 million for the first six months of 2019, a 52 percent decrease from the same period the previous year. The company’s investment in its Weflip switching website was the driving force for the decline. We’re Look After My Bills, an auto-switching service dedicated to helping people save money on their energy bills.
Why are we Here?
The simplest approach to save money on your gas and electricity bills is to use auto-switching. Our service is entirely free, and our members have already saved millions of pounds! When news broke in 2018 that energy company profits had been surging for the previous decade while customer prices had been rising, we decided to create our free service. It was evident that something needed to change, and the response to auto-switching has been incredible; our growth proves it! Signing up for our service takes only 2 minutes!
Who are we, exactly?
Our team has years of experience in the energy business and will explain everything to you in a straightforward and clear manner, without using any jargon or technical terms. We’re not like other call centers; our staff functions as one huge family with a common goal of preventing consumers from being ripped off on their bills.
What is your annual consumption? What are the unit rates? What are the different sorts of meters?
Our energy professionals will take care of all the technical intricacies, allowing you to sit back, relax, and enjoy the savings! Do you want to work from home? It’s no problem! The COVID pandemic forced a nationwide lockdown, which meant our employees had to work from home, but that hasn’t prevented us from providing excellent service! Whether it’s signing up new customers over the phone or responding to member questions via email, we’re here to help! Our team has continued to provide incredible savings and we’re pleased with the exceptional service we’ve provided to our consumers, all while working from home.
Our clients adore us!
Our consumers adore our straightforward and hassle-free service, which requires little effort on their part while they save money! We also have thousands of great ratings on Trustpilot, where we are rated 4.5/5 with an Excellent rating.
On BBC Dragons’ Den, we were Featured!
Look After My Bills made their debut on Dragons Den in 2018, with all five Dragons offering to invest in our business! ‘It’s amazing when a startup solves an age-old problem,’ Dragons’ Den’s Tej Lalvani said. We came out of the den with the best deal we’d ever had – not bad for a 100% free service! Look After My Bills has since grown to become the UK’s largest auto-switching service! When energy savings startup Look After My Bills is purchased by GoCompare, the Dragons’ Den duo double their money.
If Look After My Bills meets its financial targets, its owners could receive an additional £4 million, bringing the total to £375,000. Henry de Zoete, a former top aide to Michael Gove when he was Education Secretary, founded the company. De Zoete, 38, went on to work as the digital director for the Leave campaign, which won the referendum on Brexit. Gocompare is buying Look After My Bills, which has 150,000 subscribers, in order to expand its footprint in the energy switching industry.
For the first half of 2019, Gocompare reported profits of £7.6 million, down 52 percent from the same period last year. An investment in its Weflip switching website caused the stock to decline. The Goco Group makes a purchase. Look After My Bills is owned by This Is The Big Deal Ltd. In a £12.5 million deal, two entrepreneurs from the BBC’s Dragons’ Den made almost £4 million by selling their energy switching business to the owner of the Go Compare website.
Henry De Zoete, who was a driving force behind the Brexit campaign, and his friend Will Hodson founded their energy switching firm in 2014, which runs the Look After My Bills website. Last year, they received £120,000 in exchange for 3% of the company from Dragons’ Den investors Tej Lalvani and Jenny Campbell, valuing their company at £4 million. The agreement was praised as the best ever made on the show because it was the most money spent by the participants.
