Photo - Simple.Energy
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Simple.Energy

Switching suppliers on autopilot

Portugal
Market: Services, Financial services
Stage of the project: Idea or something is already done

Date of last change: 17.01.2024
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Idea

A service that automates the daunting task of searching for energy deals and switching suppliers.

Current Status

Under development - in Stealth

Market

End customer, Energy bill payer. Residential.
There are over 195 million customers in the EU with 65M already switching or looking to switch suppliers. With a TAM of over 6.5B and SAM 2.1B. The market CAGR of 19%.

Problem or Opportunity

The abundance of energy price plans and suppliers is overwhelming, finding the right energy deal is a daunting task. Comparison websites make it easier to choose, but lack impartiality, automation and often provide outdated or limited results. Keeping a great deal is near impossible with new deals showing up every 2 to 3 months.

Solution (product or service)

Simple.Energy is on a mission to simplify all that with a personalised service that searches and switches your utility contracts to the best deal, automatically.

Competitors

Large Competitors: Compare the Market sites, with completely different business model and primary customer.
Small Competitors: mainly UK based with no view for European expansion.

Advantages or differentiators

We work exclusively for the end customer, fighting their corner and eliminating the legal jargon so we can simplify understanding and call to action.

Finance

Revenue:
Y1: 145k Y2: 4M Y3: 8M Y4: 13M
COGS: average 350k/ year
OPEX: min 1M/ year
CAC: 11€(Y1) - 4€(Y4)

Business model

Subscription based service for only the Residential channel considered at this time.
3 price options
Price per month: Option1: " 1€" Option 2: " 3,99€" Option 3: " 4,99€"
Customers in Segment at each price point: Option 1: 42M Option 2: 10M Option 3: 12M
ARR - 100% Market Penetration: Option 1:€ 507M Option 2: € 505M Option 3: € 741M

Money will be spent on

Launching the MVP and reaching first 100k customers.

Offer for investor

Negotiable. depending on investor added value

Team or Management

Risks

Risk: Easy service to be copied
Mitigation: Our company MOAT
Risk: Large Compare the Market sites can create a similar side service.
Mitigation: Our Product Distribution Strategy and our Long Term Strategy

Incubation/Acceleration programs accomplishment

Selected to participate in the Startup Lisbon Winter Batch 2024
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Presentation