Launched in 2017, online boiler installation platform Heatable has experienced strong and continued growth. A key part of their success has been their constant striving to make the domestic heating market as consumer-centric as possible, essentially uberising the way in which people buy a new boiler.
Over their 4-year history, sales figures have exceeded 15,000, a total year on year growth of well over 50% – tremendous figures and with over 40% of their total sales coming via finance, there is no doubt that offering a pay monthly option has been a key component of their success.
Previously, Heatable had tried other finance providers but found that the application process was convoluted and the payment options inflexible and unappealing to customers. Vendigo offered a solution to these major barriers, allowing Heatable to continue on its mission to modernise the industry.
Heatable co-founder Sam Price had this to say about using the service:
“Vendigo has been a huge part of our growth strategy, allowing us to offer a range of finance options and interest rates based on the customer’s personal circumstances. The best part is that the application process itself is incredibly user friendly and fast, which were major stumbling blocks with other finance providers we tested.
Another major advantage of using Vendigo is the electronic signature feature. No longer do our network of gas engineers have to wait and return to the customer’s property to collect the satisfaction note. Now, the process is completely online and upon receipt, the funds are sent immediately to the customer’s account.
Not only is it more convenient for the customer but has enabled us to avoid time-consuming admin and concentrate on more valuable areas of the business.”
The rapid growth experienced by Heatable in such a short period of time is admirable and has by no means been easy, but when asked about companies who may be considering offering finance to customers, their response was clear.
“Our rapid growth over the last 4 years is the result of a multi-faceted strategy, but there is absolutely no doubt offering boilers on finance schemes has been a major component.
Moreover, customers today expect multiple payment options, so being able to satisfy our customer’s demands was never something we were willing to compromise. Our reputation and reviews reflect our dedication to customer satisfaction and Vendigo has helped us achieve that.”