Open document and data platform specialist Legado has acquired the consumer and B2B bill management tech from WonderBill.
Launched in 2016, London-based WonderBill “allowed consumers to manage all their household bills and subscriptions.” The company was “backed by Shell Ventures, Shell’s corporate venture capital arm.”
Legado plans “to repurpose WonderBill’s technology to support its B2B personal data management and engagement platform that counts M&G, one of the UK’s largest and longest established investment managers, among its client base.”
FNZ, the global wealth management platform, and M&G “are major backers of Legado through an investment round in 2019.”
Josif Grace, CEO, and founder of Legado, said:
“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.”
Nathaniel Mead, Director at WonderBill said:
“We are delighted that Legado will integrate our innovative technology into their platform to deliver on their vision of managing important customer data in a single, secure place that’s easy to navigate. By offering the WonderBill functionality to its rapidly growing set of large B2B clients, Legado will provide increased ease and comfort to millions of households in the UK and beyond.”
Legado is “a trusted supplier to some of the UK’s leading organizations, providing a customer-centric solution to document communication and management, engaging customers as they navigate key life events, helping reduce operational costs, and providing a more connected and cohesive digital experience.”
CEO Grace added:
“Consumers are tired of being inundated by various means of communication. Our advanced digital vault streamlines personal document management, with machine learning and analytics capabilities providing powerful insights that are used to help manage personal affairs, reduce the fragmentation of personal documents, and ensure consumers have greater peace of mind.”
Digital vault technology has reportedly “seen unprecedented interest in recent years, following an increased focus on customer wellbeing within the context of the current challenging economic backdrop.”
Legado is “well positioned in the market and is providing a solution relevant to solving the challenges faced by major organizations and their customers in today’s complex society.”
Josif Grace said:
“We’ve got the backing of some of the biggest institutions in the financial services sector. This blend of scale and technology has provided us with an opportunity to create a globally leading proposition that solves a number of challenges faced by organisations and their customers.”
CEO Grace founded the business in 2018, “after having returned from Silicon Valley where he was Chief of Staff at RocketSpace, the technology campus in San Francisco that helped to incubate tech giants like Airbnb, Uber, and Snapchat.”
