Mexico-based financial management platform ComparaGuru.com has received $7m in its Series A.
QED Investors led the round, which also saw commitments from firms including Struck Capital, Seaya Ventures, Nova Founders Capital, as well as Paypal founder Peter Thiel.
Founded in 2014, the company is an insurance and banking platform which helps digitise and automate insurance, banking and brokerage jobs.
This platform, which is entirely free for users, creates comparison tables for credit cards, personal loans and insurance to help find the correct deals for customers.
The capital will improve user experience by simplifying the comparing, buying and managing of insurance and banking products.
Alongside this, the company will look to advance its big data and machine learning technology capabilities.
ComparaGuru.com co-founder and chairman Mads Faurholt-Jorgensen said, “The Mexican consumer market for financial products is one of the fastest growing in the world and is expected to continue growing by more than 10% per year for the foreseeable future. The market does not lack options, but rather transparency and education of consumers. We provide both.”
The company’s last investment was $4m capital injection by Seaya Ventures in 2015, making ComparaGuru’s total funding $11m.
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