ComparaOnline locks up USD 14 million in Series C investment to continue to develop its marketplace for insurance and financial products in Latin America
SANTIAGO, Chile, Sept. 29, 2017 /PRNewswire/ -- ComparaOnline is an online marketplace platform that allows consumers in Brazil, Chile and Colombia to make informed choices when purchasing insurance and financial products. Its proprietary technology and seamless integration with most service providers offer consumers a comprehensive and independent tool to compare and purchase car and travel insurance as well as consumer loans, credit cards and other financial products.
Founded in 2009 by Chilean entrepreneur Sebastian Valin, ComparaOnline had already completed two prior funding rounds. Previous investors Kaszek Ventures, Ribbit Capital and Rise Capital also participated in this new financing.
Since its series B in 2013, ComparaOnline has expanded into Brazil and Colombia and diversified its product portfolio. This Series C capital will be focused on scaling its technology platform and incorporating advanced machine learning capabilities to improve customer experience. Additionally, the funds will be used to strengthen ComparaOnline's leadership position in Brazil as well as to expand further into other countries in Latin America.
The International Finance Corporation (IFC) a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. It's main investment theories revolve around financial inclusion, climate change and infrastructure improvement. IFC's interest in ComparaOnline comes from the company's great potential to drive change in Latin America towards a more transparent and inclusive industry.
Bamboo Capital Partners is a commercial private equity firm focused on the finance, healthcare and energy sector. It finds game-changing businesses that can tap into mass market opportunities to deliver financial and social returns. Its investment portfolio contains several other financial product companies in developing economies; expertise upon which the company will most certainly be able to build. Bamboo will also appoint a new member to the ComparaOnline Board of Directors.
Notes to editors
ComparaOnline webpage: http://www.comparaonline.com
SOURCE ComparaOnline
