Today we’re excited to announce a new chapter in Bean’s story, and a new chapter for the story of the future of personal finance.
Subject to regulatory approval, Bean is being acquired by BGL Group, a leading digital distributor of insurance and household financial services, and owner of brands including comparethemarket.com and life insurance provider Beagle Street.
We started Bean over 2 years ago with a simple vision to help people sleep safe in the confidence that they aren’t wasting their hard earned cash. More than £600 millions of pounds of tracked spending later, Bean is used by everyone from families saving a bit of extra cash for their next holiday to students trying to get a grip on their spending for the first time. We’ve ‘bean’ humbled and excited to see the number of use cases for Bean across the country, and we build the product each day proudly knowing we’re helping people save money.
What Happens Next
We’re excited about partnering with BGL Group because we both share a philosophy of empowering people to take control of their finances in a simple way, so they can enjoy their lives. As part of BGL Group, Bean will be able to leverage investments in R&D that will enhance the product in meaningful ways, as well as leverage Bean’s technology across BGL to help make life simpler for consumers in more ways.
In short: once the deal is approved, you can expect Bean to become even more awesome and useful than it is today. We’re as committed to our original vision as we were on launch day but we now have more firepower to fulfil that mission.
Thank you to all the Bean users out there who have helped make Bean what it is today. Without you, we’d all still be stuck with piles of paperwork everywhere. We hope you are as excited as we are about our journey ahead.