Everyday life nowadays can be hectic and fast paced, so much one might be sitting all day close to an interesting person and essentially not know them. That’s why we love co-working spaces, such as Central Working. They give their members the space to work independently but at the same time, they are surrounded by so many other cool companies who are all part of the community. Onedox is one of them and we were so happy learning more about their crowdfunding campaign, so we decided to share these news with you in an interview with the CEO & Co-founder, David Sheridan.
Reload Greece: ‘Hi David, please tell us more about Onedox and it’s mission’.
David Sheridan: Onedox is on a mission to revolutionise household bills for millions of households in the UK. We have built a “digital PA for household admin” that is already helping over 16,000 UK families take control of their household bills across energy, mobile, home media (Internet, TV, landline), streaming services, car tax and MOT, TV licensing, water bills and home and car insurance, with further services such as council tax, mortgages and banking integrations in the pipeline.
Onedox is a free digital dashboard that automatically collects household bills and displays them in one place, sends alerts whenever new information is available or a renewal date is approaching, and provides a convenient way of taking action like switching to a better deal or provider.
Through a radically transparent and convenient solution, we are helping consumers save significant time and money, so they can spend more on the things they love.
R.G.: How did it all start and what are the key highlights of your journey?
D.S.: In 2015, three friends and former colleagues launched Onedox using core software and products pioneered, and exclusively designed and built, in-house. The technology behind Onedox has been developed to solve the lack of transparency and inertia that affect all householders in the UK, with a fundamentally different approach: We want to provide millions of households with the tools they need to manage their largest set of outgoings, and to ensure they are treated fairly as a result. Our goal is to establish Onedox as the trusted advisor for the 27m UK households who not only spend £270bn annually, but waste £10bn due to being on the wrong utility packages and plans. With technology that is ahead of the market and solving a real customer need, Onedox is operating at the intersection of a few key areas: empowering customers with their own data, personal finance, and price comparison. It is a unique proposition that enables customers to act in their own best interest without being taken advantage of, because they don’t have the time to dedicate to managing their household administration.
Onedox is consistently achieving market-firsts with the features and propositions we are bringing to market. Through our participation in Accenture’s most recent FinTech Innovation Lab, Onedox was chosen by the UK’s largest banks and insurance companies as having the most innovative retail-facing FinTech in the UK. Continuing in this upward trajectory, Onedox has been nominated for several awards in the FinTech and entrepreneurial space, and was selected to participate in Natwest’s Entrepreneur Accelerator programme for financial technology.
R.G.: In what stage is your company now?
D.S.: Upon entering our current equity crowdfunding round, Onedox is already managing £21m annual spend (up from £6m a year ago) with 54,000 connected household accounts (up from 13,000) by 16,000 engaged customers (up from 5,000 with ‘engaged’ defined as having one or more connected household accounts), and over 700,000 bills downloaded on behalf of customers. Our aim is to grow the customer base to millions via D2C and B2B2C channels, and become a leading customer acquisition and retention channel for domestic suppliers. There is a major opportunity for us to use this data to drive a more sophisticated, intelligent marketplace connecting consumers with the right suppliers and products, at precisely the right time. We are currently seeking investment on Crowdcube to grow the team and further accelerate our growth. So please visit our pitch here and please contact us on: firstname.lastname@example.org if you have any questions!