The founders of energy-saving service, Look After My Bills, have clinched the biggest deal in the history of BBC TV series Dragons’ Den, accepting a £120,000 investment for just a 3% share of the business.
Henry de Zoete and Will Hodson are the co-founders of the London-based business which received offers from all five Dragons on the BBC show.
However, the duo eventually accepted investment from two Dragons, Tej Lalvani and Jenny Campbell.
De Zoete, co-founder of Look After My Bills, and previously a special adviser in the coalition Government, said: “We were apprehensive about applying to the Den and worried we’d get torn to shreds like so many that have gone before us but we were blown away by the positive feedback. Having all five Dragons offer is a signal of just how timely and necessary Look After My Bills is. Tej and Jenny’s investment is an incredible endorsement.
“Too often families are being ripped off in the energy market but I’m confident we’ll all look back in 15 years time and think it was crazy that people had to spend hours searching on comparison sites or calling up companies to get a good deal. And even if they could be bothered to do that in the first place they then had to remember to do it every year otherwise they’d be ripped off.”
The company finds consumers the best gas and electricity deals and switches them automatically when their deal runs out.
The free service is currently saving users £253 on average on their gas and electricity.
Look After My Bills also plans to offer broadband deals by the end of the year and other services such as car insurance in the future.
The deal for the firm, which has 15,000 customers, is the best in Dragon’s Den’s 13-year history – beating the previous record of 5% for £100,000 in 2014.