6 years ago

Nationwide Building Society Invests in Energy Switching Startup Switchd

  • Switchd, a UK-based startup that automatically switches people's energy supplier to help them get the best deal, has received an investment from the Nationwide Building Society

  • The investment is part of the Society's £50 million Venturing Fund, which is designed to create partnerships between the Society and startups

  • Switchd's technology helps people save money on their energy bills by finding the best deals from across the whole market

  • The investment will help Switchd grow and develop its product, and the partnership will give Switchd the opportunity to learn from Nationwide.

      • ProblemTechnology

      "Many people in the UK are overpaying for their energy bills because they don't know how to switch suppliers or don't think it's worth the effort."

      Solution

      "Switchd is a platform that automatically switches people's energy suppliers to help them get the best deal. It searches for deals from across the whole market, including the big six suppliers and smaller players. Switchd also factors in any exit penalties that may be payable for leaving a deal early to ensure this doesn't wipe out the benefit of switching."

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