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An online-electricity-marketplace startup a day keeps the FOMO away.
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Startup of the Year: Daily Dealflow
most promising and innovative startups from around the world.
#DailyDealflow newsletter delivers one seed-stage startup a day, every work day
and is presented by Silicon Valley Bank. |
WattBuy
WattBuy is an online electricity marketplace that helps residents save up to 40% a year on electricity costs by switching them to a cheaper electricity provider.
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Nobody wants an expensive electricity bill. And while choosing different electricity plans can offer huge savings, the process is complex and time consuming. At WattBuy, we're here to help make choosing a plan pain-free and simple, allowing you to take charge of your electricity.
Consumers are overpaying for electricity in excess of $20 billion in the 17 US states that give residents the power to choose who provides their electricity. In Texas alone, there are 109 providers, each with 10- 20 different plans. Information asymmetry coupled with underhanded marketing tactics frustrates cost-conscious customers, hiding the real savings found by switching providers.
Our competitive advantage is in providing actionable insights without the high friction of subscriptions or hardware, creating a higher potential for behavior change with negligible cost, truly enabling our users to take charge of their electricity.
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⚙️ Product Stage
First Full Release
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🏭 Industries
Clean tech / environment, Energy tech
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🤑 Fundraising Status
Prefer not to say
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📈 Last Funding Stage
Seed
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💸 Total Funding to Date
$170,000
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Big Wins
WattBuy is live today in eleven states. We've had over 500 residents choose their provider through our site, and have about 40 conversions / month. We've also signed on 10 of the nation's largest electricity providers as suppliers on our network.
We're also building channel partnerships with real estate technology companies like NextDoor, Zego, and Redfin, as well as with real estate brokers like Keller Williams to capture homeowners and tenants to choose a provide before they move in to a home or apartment.
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Contact the Founder:
Naman Trivedi
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