Broadbandchoices.co.uk, founded by 2010 haysmacintyre Top Gun and Growing Business columnist Michael Phillips, has gained a £10m investment from government-backed scheme Business Growth Fund (BGF).
Owned by Decision Technologies LTD (DTL), Broadbandchoices.uk offers consumers up to £400 worth of savings on annual broadband, home phone and digital TV bills.
Having achieved a turnover in 2012 of almost £11m and successfully expanded into Spain France and Germany, Ofcom accredited DTL plans to use the latest investment to fund further international growth.
The price comparison company, which receives circa 1.8 million monthly visitors, also provides software to several comparison brands, including Confused.com and Gocompare.com.
In return for the funding, which mark’s BGF’s fourth investment in September, BGF receives a minority stake in the London-based comparison services provider and Chris Hodge is due to join the Broadbandchoices.co.uk board.
Managing director of DTL and 2010 Top Gun, Michael Phillips is confident that the deal will support his company’s growth plans: “We have reached a pivotal moment for our business and I am very excited to welcome Business Growth Fund as a partner in accelerating our ambitions for the websites.
“There is an incredible opportunity in the home communications comparison space as it is an under-developed market – thousands of UK households and businesses are missing out on the right broadband, phone or digital TV deal and we have the perfect solution to change that.”