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News | 21.02.2022

RightNow: The solution for electricity contract cancellation 

After VR Ventures and the family office of the Schwarzwälder Bote successfully led the $10M Series A funding round for RightNow in December 2020, the startup has been further developing existing products and moreover, has launched a new service to defend justice and parity between consumers and large companies.

RightNow grows to the next level after we invested

No more worries about unexpected electricity contract cancellation. The LegalTech company RightNow offers fast compensation for electricity and gas contract cancellation. Due to extremely high price pressure on the electricity market, hundreds of thousands of consumers have been suddenly and illegally terminated by the electricity provider. However, when consumers complain to the electricity provider, they usually do not receive a response. Nobody knows when and if the providers will take a detailed stand again, as well as how the courts will measure damages. But now they can put hope in RightNow.

Entschädigung für Stromio-Kunden
Compensation for Stromio’s customers

The LegalTech startup aims to help and take action against Stromio & Co.

RightNow, a portfolio company of VR Ventures and the family office of Schwarzwälder Bote, buys compensation claims that consumers have against large companies and offers consumers instant compensation for their increased energy prices. As a value-driven investor, we are pleased to provide RightNow with financial and business support to accelerate growth and drive digitization in the legal sector.

Its goal is to enforce this in court. After submitting his case, RightNow’s experts review the claim from the customer, whether and how much compensation for electricity contract cancellation they can offer. Then the customer receives a non-binding offer to purchase his claim. After accepting the offer, the customer gets paid a large part of their refund claim within a very short time and they get to keep the money in any case. Finally, the company then proceeds against the low-cost providers in a class-action lawsuit and takes over the legal enforcement, namely at its own risk and expense.

Defending parity between consumers and large corporations

The founders, Phillip Eischet, Benedikt Quarch, and Torben Antretter share the same mission: People could do a rights check now and then, where they may be entitled to damages. “We want to cover as many areas of life as possible in which consumers feel powerless in the face of large corporations or authorities,” said Eischet.

Philip Eischet, Benedikt Quarch and Torben Antretter
Philip Eischet, Benedikt Quarch and Torben Antretter, founders of RightNow

In addition to compensation for Stromio customers, RightNow also provides services for the cases, such as social media data breaches, online casino losses, gym fees during a lockdown, and increased PKV premiums.

We are happy to see that RightNow is making the world a fairer place to live.

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