Remind Me GmbH

Remind Me GmbH offers an automated online service that simplifies comparing and switching energy providers, focusing on cost savings for consumers in Germany and other German-speaking regions. Remind Me GmbH, based in Berlin, Germany, specializes in providing a platform for automatic comparison and switching of electricity and gas providers. Founded in 2017 by Christian Lang and Daniel Engelbarts, the company has successfully completed five deals, with the latest being a Series A round in January 2023 where it raised EUR 2. 000 mn from investors including Econa, High-Tech Gruenderfonds, VC Fonds Kreativwirtschaft Berlin, and VR Ventures.

The current valuation of the company stands at EUR 11. 041 mn. Remind Me GmbH specializes in an automated online service for comparing and switching energy providers, specifically electricity and gas. The core offering allows customers to seamlessly transition between providers, ensuring they receive the most advantageous tariffs available in the market.

The company employs a team of tariff experts who analyze over 12,000 energy tariffs to identify the best options for clients, emphasizing both cost savings and customer convenience. Once a customer opts into the service, Remind Me manages the entire switching process, which includes annual tariff adjustments to maximize savings without requiring active engagement from the user. The service is primarily targeted at residential consumers in the German-speaking regions of Europe, providing a solution for individuals looking to reduce their energy costs while simplifying the management of their energy contracts. The revenue model for Remind Me GmbH is based on a commission structure derived from successful energy provider switches.

When clients utilize the platform to switch to a better tariff, Remind Me earns a fee from the energy suppliers involved in the transaction. This business operates on a direct-to-consumer basis, with customers engaging with the service typically on a subscription or one-time transaction basis. While specific pricing plans for the services are not disclosed, the company positions itself as a cost-saving solution, implying that users benefit from lower energy bills which counterbalance any associated service fees. The service is characterized by its automated annual optimization feature, which encourages continuous customer engagement and retention, contributing to overall revenue stability through ongoing customer satisfaction and loyalty.

In January 2023, Remind Me GmbH raised EUR 2. 000 mn in a Series A funding round from new investor Futury Capital, along with participation from returning investors VC Fonds Kreativwirtschaft Berlin, Econa, and Berliner Volksbank Ventures. The capital will support future product development and expansion into new geographic markets. The company is planning to bolster its presence in additional German-speaking regions and may explore further international markets by the end of 2024.