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Thursday 22 March 2018

Great British Scaleup: Resolving/Resolver.co.uk

Resolver logoResolving stood out at our recent Great British Scaleup programme event as a fast-growing SME with a genuinely unique offering and inspirational founder.

When CEO & founder James Walker’s boiler broke down in 2012 and he was faced with the challenge of claiming compensation from British Gas, he was inspired to found Resolving. Two years later, the Resolver product was launched offering users a fast, simple and fair way to get their issues resolved by connecting consumers and businesses (for more on how they do this or to lodge your own complaint see here).

In 2015, Resolver became the first brand to co-brand with consumer champions MoneySavingExpert – a true endorsement - and it has continued to go from strength to strength. The SME has grown to become the UK’s second largest consumer orientated website and Resolver is now recommended by a broad range of regulators, ombudsmen, charities and government bodies in the UK. It has resolved over £750m of issues over the last three years, all without a marketing budget.

Key to Resolving’s success is its strong, principled ethos, which is reflected in its ambitious mission statement: “Championing better outcomes for everyone.” The site has no advertising, yet the service is free to consumers and the business vehemently protects its independence ensuring that it has no incentive to increase the number of complaints going through the system. (In fact, businesses that use Resolver find the number of spurious claims decline dramatically, reducing complaints raised by as much as 44%). It’s built a brand that is trusted by both consumers and businesses as a result.

GBS logoAll of this would be admirable purely as a not for profit initiative, but Resolving does make money from its four commercial services. Indeed, revenues have grown six-fold over the last year and are on track to quadruple next FY as the SME expands its services in the UK and embarks on a ‘land grab’ mission in international markets, starting with the US. Little wonder then that Resolving has already attracted the attention of financial backers, raising £3m of Series A financing in 2016 from Draper Esprit and Touchstone Innovations (see Resolver has no complaints about fundraising) and a further £6m earlier this year.

We believe Resolving has the potential to be a true Great British Scaleup, building an independent resolution service internationally, and we look forward to following its progress as it scales in the months and years ahead. 

Posted by Tola Sargeant at '09:16' - Tagged: fundraising   scaleup   GreatBritishScaleup