The Series A Investment Round will accelerate the comparison of insurances, which should be released in the first semester of 2017. New markets may start being planned.
The comparison platform for financial products ComparaJá.pt (the company’s name can be translated to CompareNow) has just closed a Series A financing round worth 20 million euros. The first financing round was assured by investors such as Mark Pincus, founder of Zynga, or Peter Thiel, founder of Paypal, aside from investment funds such as ACE&Company, the New Founders Capital or the Pacific Century Group, the investment fund from Li Ka-shing.
The company was founded in 2015 by Sérgio Pereira, along with Mads Faurholt-Jorgensen, because the CEO saw the need to have a more transparent market, after the Portuguese crisis of 2008-2012. The platform is free and 100% independent, aiming to change the way clients compare and acquire products and services from Banking, Insurance and Telecoms.
“Consumers and financial institutions are enthusiastic about ComparaJá.pt”, states Mads Faurholt-Jorgensen, managing partner of Nova Founders Capital. The website, which gathers and compares products such as credit cards or personal credit, has already helped over 750,000 users. It allows comparing several financial options using filters chosen by users and within 30 seconds, the best solutions are presented according to each client’s profile.
Sérgio Pereira, CEO, considers that with the financing, the company will be “able to help more people”. “We will use this investment in three key pillars: development and release of new products, hiring more employees, and promotion; it is important to create the processes and technology but, later, it is necessary for the platform to become known, both online and offline”, explains Sérgio Pereira in an interview to ECO.
The company has very explicit goals for its future: “We aim to be a top brand in Portugal, in less than three years”, concluded Sérgio Monteiro.