Prepay power boss Andrew Collins eyes €7.5m luxury UK home
Andrew Collins, the serial entrepreneur who is close to glamorous Celebrity Big Brother star Luisa Zissman is understood to be buying a €7.5m luxury home in Potters Bar, a sought-after area near London.
Collins made his first fortune when selling his stake in former Dragon's Den star Sarah Newman's online booking group Needahotel.com to private equity group Cendant in a €60m deal in 2005. He then hooked up with Derek Richardson - now the owner of Wasps Rugby Club - to set up the hugely successful 123.ie online insurance company.
RSA spent close to €82m to buy the fast-growing insurer in 2010, netting Collins around €24m for his 30pc stake.
The entrepreneur is on the way to making his third fortune with the supremely clever Prepaypower.ie, which provides metered pay-as you-go gas and electricity to cash-strapped consumers. The firm has raised over €20m from investors, including Ryanair's Michael Cawley and former Superquinn boss Feargal Quinn.
Sunday Indo Business