US-based Squeeze acquired the UK’s subscription management platform Youtlity

American insurance price comparison service, Squeeze, just acquired the UK-based subscription management platform, Youtility.

Neither of the two companies revealed the details of the acquisition, including the financial terms.

What does Youtility have to offer?

Youtility is a company that offers embedded connectivity between banks and their customers, as well as utility and telecom suppliers. This means that customers get to control, manage, and save on broadband, energy, digital TV, as well as mobile contracts. All of this is possible from within their bank app, which makes the process quick and convenient.

Youtility has attracted a lot of attention, as well as backing by some of the major players in the financial industry. Some of its most prominent backers include Barclays, Big Society Capital, The Joseph Rowntree Foundation, and Social Tech Trust. The company also claims that some of its clients include Pockit, Virgin Money, as well as Wagestream.

Youtility also announced that it will see a number of new banking partnerships soon, and that they will be announced early next year.

However, the company is now being acquired by Squeeze, which will combine its B2B API platform with the US company’s B2C and data analytics experience. The result is expected to be a seamless, embedded switch experience for fintech and bank customers.

A unique embedded experience for businesses and consumers

Squeeze’s CEO, Elias Janetis, stated that the combined technologies of the two companies will bring great benefits to the banks. Specifically, it will allow them to embed essential money-saving actions and help all customers instead of only focusing on the financially savvy ones. As a result, the two firms are about to bring forth a new era of price comparison in the UK.

“I am excited that our expert team and unique technology can help UK consumers to make more informed decisions and to save money on their home finances. Our combined technologies will allow banks to embed essential money-saving actions and help all customers, not just the financially savvy, bring about a new era of price comparison to the UK market,” Janetis said, commenting on the acquisition.

Meanwhile, Squeeze’s Chief Strategy Officer, Tyler Randolph Boyd, stated that the combined group will offer a “one-of-a-kind embedded experience for consumers and businesses.”

Squeeze’s move to acquire Youtility is important for another reason. It is said that it is the first purchase of a UK-based price comparison service by a price comparison platform from the US. As a result, the acquisition will also allow Squeeze to enter the UK price comparison market.