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118%
Raised
£890,510
Investors
463
Target
£750,000
Equity
13.55%
Pre-money valuation
£5,680,000

Labrador uses smart technology to eliminate the hassle from energy switching by leveraging the functionality in smart meters. The service is free and energy switches are generated automatically and personalised to the household's individual consumption.

  • A disruptive business model focused on residential energy switching
  • Removes the hassle from energy switching
  • Totally free to residential customers
  • Raised £1.2m to date from over 30 investors, incl. Hambro Perks Ltd 

Idea

The UK Energy Switching market is broken. Less than 1 in 5 people shop around for their energy, with households losing an estimated £5billion. Labrador is set to change all that using our IOT home hub technology to get the mass market switching, leveraging the benefits of the Government’s smart meter rollout programme. Our service is free and offers an automatic energy switching service, permanently removing all the hassle from energy switching. Always ensuring customers are on the cheapest energy tariffs, without needing to do anything. And because our tech is scouring the market regularly, customers will never miss out if a better deal comes along.

The energy switching market is worth £1.3 billion with 8.5 million smart meters installed and new installations running at over 1 million per quarter, so Labrador is well positioned to benefit from the nationwide roll-out. By 2020 every household in Britain will be offered a smart meter.

We raised £1.2million to date from over 30 private investors and family offices, which has been invested in our technology platform. We successfully completed marketing and technical trials and the service is available now.

Our revenues come from switch fees paid by energy companies when they acquire customers. We forecast nearly 1million switches over the next 5 years with repeat revenues close to 50%. Funds raised will be used to ramp up.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Labrador Ltd has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.