FinTech is fragmented into increasingly specialized cucumber sliced microservices, ranging from embedded buy-out payment loans to specialized NEO banks and even more payment processing systems. What opportunities do innovators remain in such fragmented landscapes? One UK startup just moved, zoomed out and realized that everyone in the industry was overlooking the home. It also raises a $8 million Series A funding round for its home setup service led by EOS Ventures (Global Insurance VC).
Strategic support for EOS ventures means it will expand into built-in financial services and simplify processes such as credit and insurance products protection. The company says it is expected to handle more than 400,000 home movements in 2025.
“Trick” is often used to take users fragmented time while comparison sites provide options for people switching between utilities and insurance providers. In contrast, simply moving creates a single entry point for managing multiple services.
Also participating in the round were Weila (Telefonica's Innovation Division) and a 2nd century venture. We also continue to support the FSE Group and Angels, including Octopus Group founders Simon Rogerson and Chris Hulatt. The final round of funding was 2022, raising a £4 million seed round (approximately $5 million at its current exchange rate).
In turn, we will move from OpenRent (the UK's largest letting agency) and real estate agent Hampton, as well as Alto (Residential Real Estate Software, Data and Insights Company) and Anyvan to Embeds services.
“As you move, there are many services you need to connect to, including council taxes, water, sewage, gas, energy, broadband, home insurance, and more. Co-founder Ross Nichols told TechCrunch on the call. “We've built a platform that helps streamline that process.”
Simply move, get property information from the real estate agent's CRM and analyze available services. “So you're coming on our journey, and instead of having to complete all those transactions and finish with a dozen different websites to repeat the payment details, do it once and it's set up for you,” Nichols said.
“The main advantage for customers is that it saves a lot of time and is a free service. It pays just as much as price comparison sites work. So, we are now indirectly competing with big price comparison sites, but we are embedded in the flow of movement,” he added.
Just Move In manages over 300,000 movements in the UK, nearly 10% of the UK market.
“The plan is to bring this to Europe,” Nichols told Tehcrunch.
In a statement, James Tootell, partner at EOS Ventures, said: