Edinburgh-based company Legado has acquired consumer and B2B bill management technology from defunct company WonderBill.

Legado provides a legacy data and document sharing platform, allowing its customers to store and share documents and information online – from wills and policies to pin codes.

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.

After being wound down at the beginning of the year, Legado bought the company’s tech for an unknown sum from Shell Ventures, the venture capital arm of Shell and the previous owner of WonderBill.

Legado plans to repurpose WonderBill’s technology to support its own B2B personal data management and engagement platform.

CEO and Founder of Legado Josif Grace 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.”

Legado launched in late 2020 after receiving £600,000 of funding. Its initial investors included savings and investments business Prudential and global platform-as-a-service firm FNZ. Another of its major backers, investment manager M&G is included among the company’s client base.

The WonderBill purchase marks the company’s first acquisition.

Grace added: “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.

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“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.”

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.”

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