Labrador opened our crowdfunding campaign just over a week ago and we are now over half way to our target to complete raising £750,000 to scale our service.
Backers include global technology experts, Thoughtworks – strong believers in the power of software and technology as tools for social change.
It is now open to anyone to join them at Crowdcube.
Here are 5 reasons to invest in Labrador:
- We are the only switching service leveraging smart meter technology to provide a free to the consumer automated and accurate comparison and switching service;
- We’re not about behaviour change – our service plays to customer lethargy requiring them to do nothing beyond a 5 minute sign up – we manage the whole switching process for them;
- The energy market is broken – despite there being over 70 energy suppliers, 80% of households are still with the Big 6 – there is enormous potential to create customer value with average savings of £300 on a switch;
- The switching market is broken – less than 20% of households switch so we are targeting the 80% who don’t bother. This market is huge and requires a switching solution that is permanent, hassle and cost free. Plus, one that guarantees accurate and long-term savings on energy bills; and
- We’re a repeat revenues business – our technology has a payback plus revenue on first switch and our Labrador Retriever can process multiple switches thereafter – once plugged in and doing its job, given the service is free, why would a customer leave?
Find out more about the business and investment here