Youtility

Founded in 2016 by Will Kostoris and Charlie Quigley, Youtility is a UK-based technology company that operates as a business-to-business (B2B) platform for home finance management. The founders, identified as early adopters of open banking, established the firm to help consumers manage and control their household subscriptions directly from their banking and money management applications. In a significant milestone, the company was acquired by Squeeze, a U.S.-based direct-to-consumer platform, in September 2023. Prior to the acquisition, Youtility secured £4.5 million in a Series A funding round on February 24, 2020, led by entrepreneur Michael Spencer and Barclays. This investment was aimed at furthering product development, expanding the team, and enhancing data and behavioral insight capabilities.

Youtility's core business revolves around providing an Application Programming Interface (API) and customizable Software Development Kit (SDK) that financial institutions and fintech companies can embed into their own digital platforms. This allows the end-consumers of these financial institutions to manage, track, and switch their utility and telecom suppliers without leaving their banking app. The business model is designed to create a seamless, native experience for users, leveraging partner and industry data to minimize the user journey. By integrating with banks and fintechs like Virgin Money, Wagestream, and Pockit, Youtility provides a one-stop solution for managing household bills, aiming to increase customer engagement and retention for its partners while diversifying their revenue streams. The platform is impartial and partners with a range of suppliers to offer personalized comparisons.

The service delivers insights and analytics that help customers control and save money on recurring contracts for services such as energy, broadband, digital TV, and mobile phones. A key feature is its ability to use machine learning and behavioral analytics to provide tailored comparison and switching services. The platform also has a sustainability focus, aiming to help users reduce their carbon footprint through sustainable actions and by working with suppliers that support this goal. Following its acquisition by Squeeze, the combined entity aims to leverage Squeeze's consumer-facing expertise with Youtility's B2B services to enhance the embedded finance experience in the UK market.

Keywords: embedded finance, subscription management, open banking, B2B fintech, utility switching, API platform, home finance, price comparison, bill management, customer engagement, data analytics, recurring payments, household savings, telecom contracts, energy suppliers, financial wellness, mobile banking integration, SDK, user experience, carbon footprint reduction