Acquisitions

Insurtech startup ComparaOnline acquires Colombian rival, ComparaMejor

ComparaOnline is a Chilean insurtech startup that helps customers compare insurance options through an online platform. With a strong presence in Chile and Brazil, ComparaOnline is growing aggressively and has acquired Colombian insurance platform, ComparaMejor, to streamline its entry into the Colombian market.

While ComparaMejor only has around 10,000 customers and is focused on the auto insurance industry, ComparaOnline’s executive team is confident this acquisition will position them for explosive growth. Sebastian Valín, founder of ComparaOnline, is expecting 180% growth for 2019.

ComparaOnline’s next step: expand to the Argentinean, Peruvian, and Mexican markets.

“By the end of this year, we plan to have a team in Argentina and a functional website running there. In 2019, we will go after Mexico and Peru at the same time,” said the founder in an interview for Diario Financiero.

ComparaOnline received a Series C investment from Bamboo Capital and the IFC last year, which helped fund this acquisition.

Read more in the original article for Diario Financiero.

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