Early-stage investment firm Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies.
Company: billsmoov
Date of incorporation: 2022
Stage of business: Pre-seeding
founders: Justin Roberts and Torsten Rest
Current investors: antlers
Currently increase: Yes
Company
Bills are the largest cumulative expense for Australians, putting pressure on personal cash flow.
Month-to-month volatility and “account shocks” make budgeting difficult. And with household budgets under pressure and Australian inflation hit a 32-year high in OctoberMany Australians are facing delinquent charges and credit score damage as they try to manage the rising cost of living.
Management complexity also means that many consumers pay more than they need to, often incurring overdue charges or missing out on discounts, even if they have cash.
billsmoov (pronounced bill-smoov) is an account management platform that aims to relieve pressure on the household budget and simplify administration by consolidating bills and automating payments. With Billsmoov, Australians can get in-depth analysis of their recurring expenses and compare their bills with those of other service providers to get the best rates on the market and save money.
Antler investment thesis
“We are thrilled to partner with Justin and Torsten, who combine entrepreneurial experience, technical expertise and substantial know-how about the intricacies of bill payments in an open banking context, to ultimately bring this fee reconciliation product to life,” said Cath Rogers, Partner at Antler Australia.
“With household budgets under constant pressure due to the rising cost of living, Billsmoov is responding to consumer demand for greater predictability and control over household expenses, while providing convenience and hassle-free administration. The team has strong early traction with both customer signups and utility collaboration opportunities.
Traction/milestones, so far
Billsmoov launched its MVP to the market in early November and within two weeks secured the first 100 beta users and a further waiting list of 500 customers and growing.
It is also in ongoing discussions with Australia’s largest service providers across all major industries and expects to secure letters of intent early next year.
Resources for due diligence
Discover Billsmoov’s pitch video and investor deck at The Antler Portfolio Reveal platform.
Latest financing
Antler preseed
Use of Funds
Antler Australia’s initial investment has enabled Billsmoov to develop and launch its MVP, in addition to focusing on its privacy policies, trust and security applications, and legal compliance.
The founders say:
“With all the technology out there, it’s crazy that people still have to think about how to manage and pay bills. We are on a mission to change that,” said Billsmoov co-founder Justin Roberts.
“At Billsmoov, we are re-imagining how households manage and pay their bills. This way we relieve the household budgets. We know Australians miss their bills due to financial pressures or because life just gets in the way, our easy to use bill paying platform will solve this.
“Not only will we change the way Australians pay their bills, we will also make proactive recommendations on how to save money, so users can feel confident they are getting the best rate. Joining Antler has given us a valuable sounding board to develop our business model and ultimately get Billsmoov into the hands of Aussie households.
What’s next?
Antler, an early-stage global VC, recently showcased the latest investments it has made in aspiring Australian founders and startups. Billsmoov was one of Antler Australia’s newest portfolio companies.
Find out how Billsmoov takes the stress out of paying bills through the Antler Portfolio Disclosure Platform.
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