Squeeze, the fast-growing US tech platform helping consumers manage, evaluate, and save on their recurring insurance contracts, has acquired Youtility, a UK technology start-up who partners with banks and financial technology companies to deliver embedded home finance management services.
Youtility’s market leading B2B API platform combined with Squeeze’s data analytics and B2C experience will see a next generation offering delivered to UK consumers. The newly combined business will deliver a seamless and embedded experience to bank and fintech customers enabling them to manage, track and take action on their household finances directly from within their existing apps.
By partnering with banks and fintechs, this removes the effort and hassle consumers endure from traditional price comparison websites.
Youtility’s clients include Virgin Money, Wagestream, Pockit among others and is due to launch a number of additional large banking partnerships next year.
According to the Office for National Statistics, 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. As a consequence, there has never been a more pressing time for banks and fintech platforms to support their customers to better manage and save money.
Squeeze has quickly established an impressive track record in the US since its nationwide launch in 2021 helping the average customer save $786 per year on car insurance and $400 per year on home insurance, with the business realising >300% year on year revenue growth. The business’s success is founded on a dual approach. It functions as an impartial consumer advocate, delivering better pricing options whilst its autonomous technology removes friction and reduces consumer effort to take action.
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, Chief Strategy Officer and Lead of the newly combined group, noted “By combining the consumer facing expertise of Squeeze with the market leading B2B services of Youtility, we will offer a one-of-a-kind embedded experience both for businesses and their consumers.”
Youtility co-founders Will Kostoris and Charlie Quigley, said “We are excited to bring together the Squeeze and Youtility technologies and accelerate the businesses development by harnessing Squeeze’s expertise from the US market. We are thrilled to join forces with such a strong team and to align our collective missions to help people save money on their largest payments year after year.”
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