Utility Exchange Online gets Beringea backing

Private equity firm Beringea has invested in Utility Exchange Online, which provides price comparison services for SMEs for utilities such as heating and electricity. 

Founded in 2009 by serial entrepreneur Conway Standing, the company focuses on the small market business, which it claims is underserved. 

In the 1980s and 1990s Standing built and sold care homes and then set up Leapfrog Nurseries, which was sold to Nord Anglia in 2004. 

The rapid rise in energy costs and challenging economic climate provide a strong impetus for energy monitoring services, says Karen McCormick, investment director of Beringea.

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