Wednesday 17 January 2018

Prepay power boss Andrew Collins eyes €7.5m luxury UK home

Luisa Zissman
Luisa Zissman
Nick Webb

Nick Webb

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

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