Youtility, a UK technology start-up that partners with banks and financial technology companies to deliver embedded home finance management services, has today been acquired by Squeeze, the fast-growing US tech switching platform which helps consumers manage, evaluate, and save on their recurring insurance contracts.
Youtility is the market-leading technology platform delivering embedded connectivity between banks and customers and utility and telecom suppliers backed by some of the UK’s leading investors and social impact organisations including Barclays, The Joseph Rowntree Foundation, Big Society Capital, and Social Tech Trust.
Squeeze’s acquisition of Youtility is believed to be the first purchase of a UK price comparison service by a US price comparison website. The acquisition will allow Squeeze to revolutionise the UK price comparison market, providing consumers with greater control and financial certainty at a critical time of uncertainty.
Youtility enables banks and other financial organisations to manage, track and help their customers act on their household finances directly from within their existing apps. Their current clients include Virgin Money, Wagestream, and Pockit with several banking partnerships set to be announced in early 2024.
Youtility’s market-leading B2B API platform combined with Squeeze’s unrivalled data analytics and B2C experience will see a next-generation switching offering delivered to UK consumers. The new group will deliver a seamless and embedded switch experience for bank and FinTech customers.
By partnering with banks and fintechs, the service removes the effort and hassle consumers endure from traditional price comparison websites.
UK household energy bills have increased by 100% in the last 3 years, forcing 50% of UK adults to use less fuel and 67% to spend less on non-essential items. Therefore, there has never been a more pressing time for banks and fintech platforms to support their customers to better manage and save money.
Elias Janetis, Founder and CEO of Squeeze said “I am excited that our expert team and unique technology can help UK consumers to make more informed decisions and to save money on their home finances. Our combined technologies will allow banks to embed essential money-saving actions and help all customers, not just the financially savvy, bring about a new era of price comparison to the UK market.”
Tyler Randolph Boyd, Squeeze’s Chief Strategy Officer added “By combining the consumer-facing expertise of Squeeze with the market-leading B2B services of Youtility, the new Group will offer a one-of-a-kind embedded experience both for businesses and their consumers.”
The newly formed Group has a collective mission to help people save money on their largest payments year after year.