(Press Release) ComparaOnline.com (“ComparaOnline”), the leading insurance and financial services marketplace website in Latin America, today announced that Simon Nixon, the founder of Moneysupermarket.com, has joined ComparaOnline’s Board of Directors and made a $3 million investment in the Company. Additional terms of the investment were not disclosed.
ComparaOnline helps consumers find and compare financial products – including auto insurance, travel insurance, consortium finance and credit cards – simply and quickly, while helping insurance companies and banks expand their distribution and lower customer acquisitions costs. Through its partnerships with leading banks and insurance providers in Brazil, Chile and Colombia, ComparaOnline has become the single largest online distributor of insurance and other financial products in Latin America.
“This investment is clear validation of our market leadership and growth strategy and we are thrilled to welcome Simon to the Board,” said Sebastian Valin, Founder and CEO of ComparaOnline. “Simon built the most successful financial comparison site in the world and we look forward to leveraging his unrivaled expertise to deliver new and innovative experiences for our customers throughout the region. His experience will both empower the strategic vision of ComparaOnline as well as create opportunities to leverage best practices in marketing, business development and operations.”
Founded by Mr. Nixon in 1993, Moneysupermarket.com enables consumers to compare prices on a range of products, including mortgages, credit cards and loans. Mr. Nixon served as Chief Executive Officer of the Company until 2008, overseeing the growth, development and management of the business and helping the Company more than double its revenue since its London listing in 2007. Mr. Nixon currently serves as Non-Executive Deputy Chairman of the $1.6 billion business and retains an ownership stake of approximately 30%.
“After conducting extensive research on the Latin American market opportunity and players in the space, it became clear to me that ComparaOnline is the leading insurance and financial comparison platform in this high-growth market,” said Simon Nixon. “The Company has distinguished itself through its differentiated product offering – supported by cutting-edge proprietary technology – and a compelling growth strategy centered on rapidly-expanding markets such as Brazil and Colombia. I am excited to work with Sebastian and his best-in-class team to capture the significant opportunities ahead.”