Open document and data platform company Legado has acquired the consumer and B2B bill management technology from WonderBill for an undisclosed sum.
Launched in 2016, London-based WonderBill allowed consumers to manage their household bills and subscriptions. The company was backed by Shell Ventures, Shell’s corporate venture capital arm.
Legado (the Portuguese word for ‘legacy’) is based in Edinburgh and says it plans to repurpose WonderBill’s technology to support its B2B personal data management platform that counts M&G, an investment manager, among its client base.
Josif Grace, CEO and Founder of Legado, says: “WonderBill has invested significantly in its technology over the last few years. The integration of the consumer and B2B bill management technology into Legado’s platform will provide our corporate partners with a market-leading and compliant solution to manage, share, and access personal data in a way that is meaningful for customers.”
WonderBill’s website seems to be no longer operational. The firm has 12 employees listed on LinkedIn, and their fate is not mentioned.
- A recent deal – read about ‘iomart Hunts for Hybrid Cloud Action with £10.5m Concepta Acquisition’ here
According to LinkedIn, WonderBill had more than 50,000 people as customers. The company worked with 90+ service providers in the UK – covering electricity, gas, TV, broadband, mobile, landline, water as well as subscription services like Netflix and Spotify.
Legado works in the B2C and B2B spaces. It connects users with the businesses they work with, such as utilities, finance, health and entertainment. Its website mentions plenty of names, like EDF, Aviva, BT, Sky, the NHS and Vodafone.
Its other clients include Lloyds and Moneyhub. FNZ, the wealth management platform, and M&G are “major backers” of Legado through an investment round in 2019.
Grace explains that the company’s digital vault includes machine learning and analytics capabilities.
Grace founded the business in 2018, after having returned from Silicon Valley where he was Chief of Staff at RocketSpace, a technology campus in San Francisco that helped to incubate tech firms like Airbnb, Uber and Snapchat.