LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • #changetheratio
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • #changetheratio
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Bamboo Capital & IFC Invest in Chile’s ComparaOnline

September 18, 2017
Sebastian Valin ComparaOnline Bamboo Capital LAVCA Venture Investors

Bamboo Capital and the IFC made a US$14m investment in ComparaOnline, a price comparison site for insurance and financial services in Latin America.

(TechCrunch) Venture investing in Latin America continues to pick up the pace, with new deals in financial technology services leading the way.

One example of investors’ renewed interest in regional financial services companies is the $14 million in financing that ComparaOnline just wrapped up.

The company, now backed by private equity firm Bamboo Capital Partners and the International Finance Corp., the investment arm of the World Bank Group, pitches financial educational tools to consumers in Brazil, Chile, and Colombia.

For now, the company is focused on informational services for car and travel insurance, consumer loans and credit cards. These businesses are all new to Latin America, but are growing quickly in the region.

Writing about the insurance industry in Latin America, E&Y noted in a recent report:

Despite the dramatic economic downturn in Latin America in the past three years, insurers in the region have remained profitable and are poised for growth. The success in this sector has been historically tied to high interest rates, rising disposable incomes and growing market penetration. While there are sharp regional variations in economic conditions and demand for insurance products, one common dominator is an underserved market in both the personal and commercial space.

The economic malaise of the past three years is expected to lift in Brazil, which represents about half of the insurance market in the region. A rise in disposable income will encourage consumers to insure more cars and homes and invest in life and health products, providing a boost to insurance markets. At the same time, new infrastructure and energy projects expected in some countries will bolster demand for commercial products.

Founded eight years ago by a Chilean entrepreneur, Sebastian Valin, ComparaOnline raised two previous rounds of funding from the regional investment firm Kaszek Ventures, and financial technology investors Ribbit Capital and Rise Capital, all of whom committed money to the latest round.

Since it last raised cash in 2013, ComparaOnline expanded to Brazil and Colombia and began reporting on new categories like credit offerings.

While informational tools like Credit Karma, CreditSesame, Credit.com, and others have established themselves in the U.S., the credit scoring and credit management market is less mature in most Latin American countries where consumer credit is only now beginning to gain a foothold.

By far the most advanced of these markets is Brazil, where ComparaOnline now has a foothold and will use its latest round of financing to expand further, the company said.

From its headquarters in Santiago, Chile, ComparaOnline now serves over 1 million monthly active users, the company said, and makes its money off of lead generation services for its credit and insurance brokerage business lines.

Bamboo Capital & IFC Invest in Chile’s ComparaOnline was last modified: September 19th, 2017 by Editor
Bamboo CapitalChileComparaOnlineEducationFinancial ServicesFintechIFCPrivate EquitySebastian ValinStartupVenture Capital
1
Facebook Twitter Google +

Submit VC News

Have private equity or venture capital related news that you would like to share? Submit your press releases and news to news@lavca.org.

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sector Tags

agribusiness AgTech Artificial Intelligence B2B biotech Consumer/Retail delivery Digital Media & Entertainment e-commerce ecommerce EdTech Education Energy Enterprise Software Financial Services fintech foodtech Healthcare Healthtech HRTECH Human Resources Impact Impact Investing Infrastructure IoT IT logistics Logistics & Distribution logistics and distribution marketplace Marketplaces Mobile Private Capital Private Equity Proptech Real Assets Real Estate SaaS Software Startup startups Technology Telecommunications Transportation venture capital

Geography Tags

Alquilando Argentina Argentine Austria Belize Bolivia Brasil Brazil Canada Canary Caribbean Central America Chile Colombia Costa Rica Dominican Republic Ecuador El Salvador Guatemala Honduras India International INTL Israel Jamaica Japan Kenya LatAm Latin America Mexico Miami Nicaragua Pan-Regional Panama Paraguay Peru Portugal Puerto Rico South Korea Spain United States Uruguay US USA Venezuela
LatAm Venture Bulletin

LatAm Venture Bulletin

The LatAm Venture Bulletin is a must-read roundup of startup deals and news on emerging technologies in Latin America, delivered to over 6,000+ investors, entrepreneurs, and corporates bi-weekly.
Asset Class *

Tweets

  • Great conversation with #LATAM private capital associations about challenges, opportunities, policy updates, & best… https://t.co/XlacTRJ7I4

    01-Mar-2021

    Reply Retweet Favorite
  • 🚀READ LAVCA's LatAm Venture Bulletin featuring: #edtech deep dive with @descomplica; #ESG #CaseStudy featuring Cana… https://t.co/jFFMxVRpcn

    25-Feb-2021

    Reply Retweet Favorite
  • LAVCA recently spoke with Maria Pia Iannariello, Co-Founder & COO at @mgminnovagroup, about the opportunity for pri… https://t.co/i7XUo807Kl

    16-Feb-2021

    Reply Retweet Favorite
  • ☑️SIGN UP for the #LATAM Private Capital Update: this week featuring @L_Catterton Exits Espaçolaser; Vinci in… https://t.co/ag2JqwwOOS

    10-Feb-2021

    Reply Retweet Favorite
  • READ LAVCA’s latest deal case featuring @PC_Capital investment in 🇲🇽 agribusiness/retail seeds company Rancho los… https://t.co/R7ChIFYyGq

    03-Feb-2021

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Offices

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10018

LAVCA Also Has a Regional Presence in:

   Washington DC
    

    Silicon Valley:
    San Francisco, CA

Explore LAVCA.org

  • About LAVCA
  • Board, Team, & Advisors
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2020 - LAVCA. All Rights Reserved.


Back To Top