Utility billing service sees revenue growth of 450%

Utility billing service, The Student Energy Group (TSEG), has seen a 450% increase in revenue in its second year of operations.

Based in Birmingham, TSEG achieved more than £20m in revenue, marking a major increase from its initial year.

The company expanded its team by 300% to meet the rising demand, serving more than 7,500 student households.

Alex Back, sales director for TSEG said: “With student accommodation, it’s the age-old problem of bills and who pays them. For landlords, letting agents and students, there’s often someone left holding a larger bill at the end of a tenancy period. Our software essentially eradicates this issue. Individuals can now pay for the utility package they need online at the touch of a button. What’s more, TSEG offers genuine split liability so bills are fairer for all.

“This year has far exceeded expectations for TSEG. In the first six months alone we grew from a team of 13 to 52 and turnover has been higher than expected. Our predictions for the next three years are to grow our student households by more than 30% whilst increasing turnover to £50 million but already these predictions are going to be exceeded.

“Working with the biggest energy suppliers we’ve been able to support thousands of students to get the best deals and to be able to successfully manage their bills at a key time in their lives and have taken the stress away from landlords and letting agents.

“For us, it’s about offering a tech-driven solution that makes energy easier to access with no hidden costs – it’s simple and honest energy.”