Simble deal extension equates to 90% revenue increase

By Trevor Hoey. Published at May 27, 2019, in Technology

Simble Solutions Ltd (ASX:SIS), an Australian software company focused on energy SaaS and IoT solutions has extended its deal partnership with Australian technology company BidEnergy Ltd (ASX:BID) and UK energy broker UCR Consultants (UCR).

Simble will provide an enhanced technology solution, allowing a material expansion of the company’s existing agreement with UK energy broker UCR.

The introduction of BidEnergy’s Robotic Processing Automation (RPA) platform as a new feature bundled into Simble’s smart energy technology solutions will allow UCR to expand deployment to 60,000 metres ahead of schedule.

The updated deal is worth up to £3.5million (AU$6.4million) over a three-year term, a significant increase on the original deal struck in January which was valued at $3.4 million.

Importantly, this will result in a substantial increase in the group’s recurring revenues, providing financial stability and improved earnings visibility in the near to medium-term.

Targeting fast-growing energy broker market

Simble will target the fast-growing energy broker market in the UK, utilising BidEnergy’s RPA BidBilly platform to manage core data requirements for thousands of SME’s (small to medium enterprises) across the UK.

Through the front-end of BidEnergy’s RPA platform, Simble is able to seamlessly onboard clients, rapidly parse bill information and power Simble’s solution at the sub meter level.

This combined solution will allow UK businesses to reduce their energy consumption and their expenditure.

BidEnergy’s RPA Platform will seamlessly integrate with Simble’s smart energy technology solution and deliver superior value to customers of energy brokers.

The first energy broker to deploy the end-to-end solution will be Simble’s existing partner UCR Consultants, an energy broker with over 60,000 meters under management.

Proof of concept paves way for up to 60,000 meters

Simble’s partnership with UCR has delivered exciting results in the first four months, driven by strong customer demand and fast adoption of Simble’s disruptive energy analytics solution.

Following the successful proof of concept, UCR has signed a material expansion of the existing agreement to roll out the combined Simble and BidEnergy solution to up to 60,000 meters over an agreed timeframe.

The partnership with BidEnergy represents a major growth opportunity for Simble as it enables the company to leverage a growing footprint to cross-sell value-added solutions and acquire customers across a number of industry verticals with a comprehensive and significantly strengthened value proposition.

Recurring revenues as UCR targets 200,000 meters

To fast-track market penetration, UCR Consultants was appointed as a non-exclusive distributor to the UK energy broker channel targeting a further 200,000 meters, a four-fold increase on the initial target market announced in mid-January.

Over 2 million meters are serviced by energy brokers in the UK, highlighting the significant market opportunity for Simble which is valued at approximately $28 million.

As the rollout commences immediately, Simble expects to deliver substantial recurring revenues from this partnership, targeting monthly six figure income streams within the first 12 months.

Additional resources will be allocated towards the UK to maximise value from this partnership and further accelerate business momentum.

Highlighting Simble’s progress to date and the success of its partnership focused strategy, chief executive Fadi Geha said, "Everything we have been working on since our IPO (initial public offering) is coming together in this deal.

“Our partnership focused growth strategy will deliver value and significant revenues to all parties involved and allow us to offer end-customers the best of all solutions.

“We have a head start in the UK and the inclusion of BidEnergy’s solution allows us to scale faster, deliver more meaningful revenues and acquire more customers with a comprehensive and significantly strengthened value proposition."

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!