BILLS MANAGEMENT BUSINESS RECEIVES £115k FROM BRISTOL PRIVATE EQUITY CLUB
A Bristol-based technology business which manages household bills for students has received vital early-stage investment from Bristol Private Equity Club (BPEC).
Easy Student Living was set up by Elliott Herrod-Taylor in 2017, during his second year at the University of Leeds.
Last year the business rebranded as The Bunch and moved its offices to Bristol’s King Street, where it now employs 11 people and has around 4,000 customers across 30 UK cities.
The £115,000 investment from Bristol Private Equity Club is part of a recent £900,000 fundraising round which will enable The Bunch to expand its range of services.
Elliott, aged 24, who grew up in Marlborough, Wiltshire, said: “More people are renting now than ever before, often living in shared houses well into their 30s.
“As a student I remember the awkward conversations with friends which often arose when it came to paying regular utility bills and that is where the idea for the business came from.
“We have a subscription model costing £10 per person per month. Each person then has individual liability and all household bills are consolidated into one monthly payment, so each housemate can then just pay their share equally without any complications.
“This latest round of investment will allow us to continue on our growth path, moving into the young professional space and launching new products, including a service to help tenants to find new properties before they even begin paying any bills.”
Jerry Barnes, founder director of Bristol Private Equity Club, said: “The Bunch is another example of technology being used to solve a complex, common problem in a simple and cost-effective way.
“Elliott and his team have done remarkably well in a short space of time and we are delighted to have been able to invest in their ongoing success.”