Price comparison service Broadbandchoices.co.uk has raised £10 million through the Business Growth Fund.
Price comparison service Broadbandchoices.co.uk has raised £10 million through the Business Growth Fund (BGF).
Founded in March 2005, the home communications comparison platform, owned by Decision Technologies (DTL), is accredited by industry regulator Ofcom with circa 1.8 million monthly visitors. DTL also has a European footprint through its newly launched comparison websites Comparaiso.es (Spain), Letamis.fr (France) and Schlaubi.de (Germany).
In addition to providing comparison and switching services directly to consumers via Broadbandchoices.co.uk, DTL also operates a partnership platform through which it powers the home communication comparison services of more than 40 white label partners including CompareTheMarket.com, Confused.com and GoCompare.com.
The funding will be used to accelerate Broadbandchoices.co.uk’s ambitions in becoming the UK’s leading destination site for customers looking to save money on broadband, digital TV and home phone services, as well as to promote international expansion with its European brands.
The investment will also be used to develop the company’s proprietary technology, providing tools and apps to make it easier for customers to find the right deal for them and switch.
The BGF has acquired a minority stake in the business and investment director of the Fund Chris Hodges will join the board on behalf of the BGF.
Hodges says, ‘We are excited by the opportunity to back an accomplished and ambitious management team that has created an opportunity to establish its brand in the home communications price comparison market.’
Michael Phillips, managing director of DTL adds, ‘We have reached a pivotal moment for our business and I am very excited to welcome the Business Growth Fund as a partner in accelerating our ambitions for the websites.
‘There is an incredible opportunity in the home communications comparison space as it is an under-developed market – thousands of UK households and businesses are missing out on the right broadband, phone or digital TV deal and we have the perfect solution to change that.’