Expression of Interest

The noobill app is an AI-powered smart account pioneering a new and better way for people to compare, manage and pay their essential services.

Closes: 8d, 10h, 11m and 38s
  • Type: Retail

noobill is your AI-Powered smart account for all essential bills, in one place.


Register your interest for this equity crowdfunding offer to be the first to know when it goes live!

    What is noobill?

    Paying bills and managing personal finances can be a nightmare. noobill has created a next-generation smart account for Millennial and Generation Z consumers who are digitally native and eager to elevate their financial well-being.

    noobill is a pioneering AI-powered smart account to integrate all essential services within the one mobile app. noobill delivers, at a minimum, a 10x better user experience than traditional tools for managing utilities, telecommunications, banking and insurance and empowers users by helping them learn better financial habits, at zero cost. The interface offers an automated experience that ensures essentials are always paid on time through easily managed instalments at paydays, whilst the AI powered individualised price comparison tool ensures that users always receive the best value.

    Unconflicted and impartial, noobill generates revenue by charging transaction fees to essentials providers for payments made by users through the app. Unlike existing price-comparison competitors, noobill connects providers with a highly qualified audience, without any significant up-front investment in marketing or customer acquisition costs.

    Noobill is set to launch in January 2021, following a successful beta testing phase with 750 app users already signed up. The app is currently live in Victoria for energy utilities but is ready to launch Australia-wide with telecommunications, banking and insurance providers in other states already signed up.

    As a first mover in data integration across core essential services, noobill will deploy proprietary algorithms to anticipate user needs and offer an unparalleled automated personal finance experience.

    Investment Highlights

    1. First AI Powered Smart Account for Essentials

      Using AI, noobill is the first smart account to make paying bills and comparing and switching providers easier and fairer. noobill also analyses each user's billing history to tailor product and provider recommendations, enhancing their lifetime savings.

    2. ‘Sticky’ User Base for Essentials

      In providing a holistic service that helps users manage life's essentials, noobill creates a ‘sticky’ audience of consumers by ensuring they always receive the best value and a highly convenient experience. Convenience and usability is further embedded over time as users integrate multiple services with noobill, cultivating loyal brand ambassadors.  

    3. Strong Early Traction with Plans for Nationwide Rollout

      noobill attracted 750 app users in the beta testing phase without any direct marketing spend. Now noobill is ready to launch and scale rapidly, targeting 160k users over the next 24 months.

    4. Potential for International Expansion & Under-Served Multilingual Market

      After expanding across all states and essentials verticals within Australia, noobill will pursue growth through international expansion in New Zealand, the US and the UK.

      The noobill app will also be rolled out in different languages to capture the under-served multilingual market who may have greater difficulty understanding their bills. For example, there are 4.9m people in Australia who speak a language other than English at home.

    5. Experienced & Talented Management Team

      The noobill management team have a track record in successful start-ups and high-profile technology companies. Fed up with seeing issues with billing in the utilities industry and identifying an opportunity to create value for consumers through leveraging data and user-centric design, they decided to do something about it.

    6. Backed by Prominent Technology Investors

      On the back of its disruptive product and significant market potential, noobill has already attracted pre-seed funding from major investors and an Australian tech unicorn founder.  noobill is also proud to be part of the Stone & Chalk accelerator and a member of Fintech Australia.

    Drive Great Financial Habits

    1. Bite Pay

      noobill calculates your spend for all bills and pays them off automatically via weekly, fortnightly or monthly direct debits on paydays to better fit in with your lifestyle and budgeting. This ensures your bills are always paid in advance, meaning you’ll never be late or surprised by large quarterly bills.

    2. Spare Change

      noobill allows users to round up their payments to the nearest $5 each week, which automates the creation of a rainy-day savings fund for emergencies - never be caught short again.

    3. Pay Later

      noobill matches each user’s rainy-day savings, dollar for dollar, in a Pay Later account. If a little short in their rainy-day fund, users can draw on the Pay Later account to help cover their essentials. The Pay Later account provides additional peace of mind and only incurs a $5 weekly fee when drawn upon. Users then make incremental repayments with each noobill payment.

    A Market in Need of Disruption

    In 2018, $160 billion in bill payments for residential utilities, insurance and finance were made in Australia. A conservative estimate of $25 billion are avoidable payments, including late fees, bank fees and over paid home loan interests.

    noobill’s system is built to help users avoid these avoidable payments. Through their rigorous due diligence process, noobill ensures that all providers offer a high-quality service at the best price, with no hidden costs, whilst also providing users with ongoing bill monitoring, a no-lock in contract and free switching. This allows noobill to turn the outdated utilities business model on its head, in favour of consumers rather than the larger retailers. Instead of an incentive structure that preferences the highest bidder, noobill focuses on finding the best value for its users.

    noobill will initially focus on Australia’s 4 million millennials and Generation Z individuals. Studies have shown that this demographic is most concerned about actively improving their financial well-being, with 44% reporting that they constantly stress about their money and financial future.

    noobill’s smart account is the digital solution Millennials and Gen Z needs. From noobill’s market interviews and surveys of over 400 targeted audience, 78% rated the noobill service as “very beneficial”.

    Plans for Future Growth

    noobill has a robust future product development pipeline, as well as plans for international expansion given its first mover advantage.

    Product development follows a three-pronged strategy:

    1. Make it social: Functions to split bills with housemates or share the payment with friends and family.
    2. Make it complete: noobill will progressively integrate additional financial management products into the one app
    3. Make it smarter: Developments to the AI will allow noobill’s automated functions to become even smarter – enabling more streamlined processes and creating more value for users

    The vision is to combine these features to make noobill a “super app” for personal finance and offer a broader range of tailored financial products to users. In doing so, noobill hopes to capture a larger user base and generate ever greater revenues from provider fees on essentials paid through the app.

    Once fully launched in Australia, noobill aims to grow internationally. Collectively, Australia, New Zealand, the United States and the United Kingdom share similar user demographics, industry structures and represent a combined total market of $2.5 trillion (transaction value) with no known digital solution similar to noobill yet.

    Why Equity Crowdfunding

    Bills are something that everyday Australians have had a negative experience with. With over $25 billion per year wasted on essentials and Millennials finding it harder to build wealth and credit – noobill wants to revolutionise this process and invites all bill-paying Australians to share in its journey.

    Funds from this raise will be used to expand the range of essentials offered through the noobill app and expand our reach Australia-wide. As we launch this new and exciting phase, we want to give our existing users and the wider community a chance to own part of our success as we look to accelerate product development, marketing and expansion. As a platform that was built around improving the lives of its users, noobill wants to allow everyday individuals to share in its potential growth and success.

    Australian Corporations Regulations - Warning Statement About Equity Crowdfunding

    Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks.

    You may lose your entire investment, and you should be in a position to bear this risk without undue hardship. Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares.

    Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.

    Even though you have remedies for misleading statements in the offer document or misconduct by the company, you may have difficulty recovering your money.

    There are rules for handling your money. However, if your money is handled inappropriately or the person operating this platform on which this offer is published becomes insolvent, you may have difficulty recovering your money.

    Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.