The UK mobile phone market has over 80 million mobile subscriptions and generates nearly £18 billion in revenues. Our research has shown that there are huge savings to be made within that giant market - over 70% of consumers could save on average 40%, or an implied £148 per year, while 9 out of 10 SMEs could save on average 49% or £195 per connection per year. That’s billions of pounds of potential savings.
Ofcom, the UK telecoms regulator, is slowly taking actions to address some of the key issues within the market. They recently introduced the Text-to-Switch regulation and announced the introduction of the Contract-End-Date notification.
While much more is needed to create a truly fair and transparent telecoms industry, the new regulations do open the market, creating a unique opportunity for expansion. It is that opportunity that the funds raised will leverage on.
Klaus Henke, Managing Director of Billmonitor commented:
“This fundraise will allow us to further increase awareness of the overcharging, and enable us to reach more users and businesses, helping them to save money that can make a meaningful contribution to a user’s next holiday, go towards purchasing that equipment the SME always wanted or allow the foundation trust to hire additional nurses.”
We already welcome a monthly average of 14,000 unique visitors to our website, offering a fully automated Bill Analysis and the Ofcom-accredited Calculator tool that allows users to input their own assumptions. We also provide consultancy-led business services, offering Bill Audits and Bill Monitoring to businesses and public sector / NHS service providers.
View Billmonitor’s campaign on leading European investment platform, Seedrs.