Here’s the story from the beginning: starting with our co-founders, why they became entrepreneurs, setting up a collective energy switching company in 2014 and how this evolved into Look After My Bills today.
Our service was co-founded by Will Hodson and Henry De Zoete.
The duo have been friends since their first week at Bristol University. They were in the same halls, studied the same subject and were even on the same football team!
Their entrepreneurial spirits were ignited in 2014.
News surfaced that for the last decade energy company profits were soaring, and at the same time consumers bills were getting more expensive.
Since then the entrepreneurs have immersed themselves into making the energy industry fairer for consumers. From discussing energy issues in the news to saving the public hundreds of thousands of pounds.
One winter they were chatting about how their deals would be ending and that they needed to compare the market again, but finding the time was proving difficult.
It turned out Will’s deal had expired two years ago costing him an extra £430 and Henry’s had expired 3 years ago costing him an extra £840! They had both been rolled onto their suppliers most expensive rates – the standard variable tariff.
The energy regulator, Ofgem, had reported 72% of people were on the standard variable tariff and were therefore paying the most expensive energy rates!
With a background working in consumer issues, Will was outraged that energy suppliers were getting away with charging loyal consumers hundreds of pounds more than new customers.
Henry, shocked at how little the public were aware felt compelled to bring the loyalty tax into the spotlight. The duo began thinking about how they could get money back in the pockets of consumers rather than the Big Six bosses.
The entrepreneurs utilised the people power of 400,000 members to negotiate the cheapest exclusive deals. The Big Deal’s research also started featuring in media headlines exposing suppliers for not passing on falling energy costs to their customers and comparison websites hiding their best deals.
After a year The Big Deal members started to request that this service be automatic. Not only would an automatic service save people money but time too! This made perfect sense and so The Big Deal evolved into the auto-switching service Look After My Bills in January 2018.
The two best friends pitched their idea for the service that automatically switches your energy deal to ensure you’re always on the best deal.
All five Dragons made an offer to invest in their company with Peter Jones stating “I think you’ve got a real chance of making this a success”.
The co-founders of Look After My Bills secured an investment of £120,000 for just 3% equity in their company, making it the best deal ever secured in the Den.
We’re not like call centres, our whole team is based under one roof, with one shared ethos of helping people save money on their energy bills. We explain everything in a simple and straightforward way. We don’t use any confusing energy jargon, so you always understand what’s going on.
It takes 2 minutes to sign up, then you’ll never have to worry about your energy bills ever again.