Just Move In Raises $8M Series A for Home Setup Service

The Evolving Fintech Landscape and a Novel Approach

The fintech sector has become increasingly divided into highly specialized micro-services. These range from integrated buy-now-pay-later options to niche neo banks and numerous payment processing systems. What opportunities still exist for innovation within this fragmented environment?

Just Move In, a U.K.-based startup, identified a gap in the market: the home itself had been largely ignored by the industry. The company has recently secured $8 million in Series A funding, led by Eos Ventures, a globally focused insurtech venture capital firm, to expand its home setup services.

Expanding into Embedded Financial Services

With the backing of Eos Ventures, the company intends to integrate financial services, simplifying the acquisition of credit and insurance products. Just Move In projects handling over 400,000 home moves by 2025.

The core concept lies in providing a centralized solution. While comparison websites offer choices for switching utilities and insurance, they often result in a disjointed and lengthy process for users.

Just Move In, conversely, functions as a single access point for managing multiple essential services.

Investment and Support

Wayra, the innovation division of Telefónica, and Second Century Ventures also participated in this funding round. Continued support comes from The FSE Group, alongside angel investors Simon Rogerson and Chris Hulatt, the founders of Octopus Group.

The company’s previous funding occurred in 2022, with a £4 million seed round, equivalent to approximately $5 million based on current exchange rates.

Strategic Partnerships

Just Move In integrates services from key partners including Openrent, the largest letting agency in the UK, and Hamptons, a prominent real estate agent.

Furthermore, the platform incorporates Alto, a provider of residential property software, data, and insights, and Anyvan, a moving service.

Streamlining the Home Moving Process

“Moving into a new home requires connecting numerous services – council tax, water, sewage, gas, energy, broadband, and home insurance, to name a few,” explained co-founder Ross Nichols in an interview with TechCrunch.

“We’ve developed a platform to simplify this process.” The system retrieves property information from the estate agent’s CRM and analyzes available services.

“Our platform allows users to complete all transactions and provide payment details only once, rather than navigating dozens of websites,” Nichols stated.

Value Proposition and Market Position

The primary benefit for customers is significant time savings, and the service is offered at no cost. Just Move In generates revenue similarly to price comparison sites.

“We now compete indirectly with major price comparison websites, but our service is integrated directly into the moving process,” Nichols added.

Currently, Just Move In manages over 300,000 moves in the UK, representing nearly 10% of the national market.

Future Expansion

“Our intention is to extend our services to Europe,” Nichols shared with TechCrunch.

James Tootell, Partner at Eos Ventures, commented: “Just Move In’s innovative combination of home services with financial products embodies the future of consumer-centric FinTech.”