ComparaGuru.com secures USD 7 million Series A investment from leading investors to help Mexican consumers save time and money on their financial products

Mexico’s leading financial management platform for insurance and banking products raises capital from renowned fintech investor QED Investors, Peter Thiel (founder of Paypal and first outside investor in Facebook), Struck Capital, Nova Founders Capital and Seaya Ventures

Mexico City, 21st June 2017 – ComparaGuru.com, Mexico’s leading financial management platform for insurance and banking products (such as car insurance, personal loans and credit cards), has further strengthened its position after closing a USD 7 million Series A from leading global investors.

The financing round was led by QED Investors, a venture capital firm focused on investing in high-growth, innovative financial services companies such as CreditKarma, alongside Peter Thiel (founder of Paypal and first outside investor in Facebook), Struck Capital, existing investors Nova Founders Capital and Seaya Ventures.

Founded in 2014, ComparaGuru.com is an innovative technology platform that seeks to digitize and automate insurance, banking and brokerage jobs, thereby making personal finance advice unbiased, available around the clock and completely tailored to the users’ personal needs. The company is led by co-founders and Managing Directors Freddy Dominguez, Bernardo Prum and Ivan Hernandez, and co-founder and chairman, Mads Faurholt-Jorgensen.

Thanks to a strong emphasis on data, machine learning and AI, the company helps its users to get the best products for them and to manage the product throughout the lifecycle. By doing this, ComparaGuru.com eliminates inefficiency from manual processes, misaligned incentives and creates much needed transparency for its users, enabling them to select products that best match their needs and risk profile. The service is 100% independent and free for the user.

“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,” says Co-founder and Chairman Mads Faurholt-Jorgensen.

“This tremendous support from some of the best investors in the world and the interest in our platform from our users and partners is a clear signal to us that we are on the right track. Since we launched, we have helped more than 4 million Mexicans understand and better manage their personal finance products, we have grown to more than 70 people employed and we have entered into partnerships with more than 30 of Mexico’s leading financial institutions,” continues Co-founder and Managing Director Freddy Dominguez.

The proceeds will be used to continue to improve the user experience by making the process of comparing, getting and managing insurance and banking products significantly easier. As part of this, the Company will further develop its proprietary technology including advancing its big data and machine learning capabilities. In addition, ComparaGuru.com will continue to hire exceptional talent to help support the Company’s growth momentum and invest in reaching even more consumers to help them save time and money.

“The banking and insurance markets in Mexico are a unique opportunity with plenty of room for technological progress. ComparaGuru.com has already become a trusted destination for the Mexican consumers’ personal finance needs and we are really excited to be part of the Company’s ambitious mission of helping even more consumers” Bill Cilluffo, Partner at QED Investors, who will join the Company’s Board of Directors alongside Michael Kleindl from Seaya Ventures and Nova Founders Capital.

 

 

 

About ComparaGuru.com

ComparaGuru.com is Mexico’s leading financial management platform for insurance and banking products. Thanks to its proprietary technology and data-driven approach, ComparaGuru.com helps Mexican consumers save time and make better choices with comprehensive, free and independent online comparison tools for insurance, personal loans and credit cards. The Company was founded in 2014 and employs more than 70 people.

www.comparaguru.com

 

About QED Investors

QED Investors is a leading venture capital firm focused on investing in early stage, disruptive financial services companies in the U.S., U.K. and Latin America. QED is dedicated to building great businesses and uses a unique, hands-on approach that leverages their partners’ and principals’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth.

www.qedinvestors.com

 

About Nova Founders Capital

Nova Founders Capital is a global investment company that identifies opportunities to build innovative internet businesses in high-growth markets. The company builds and invests in sustainable large-scale business models with a strong focus on innovative financial services. The team behind Nova Founders Capital are some of the most experienced entrepreneurs in the world, and have successfully grown over 30 technology businesses globally.

www.novafounders.com

 

About Seaya Ventures

Seaya Ventures is a Spanish venture fund, founded in Madrid in 2013, that invests in early and growth stage Internet and technology-enabled businesses in Spain and Latin America. With more than €140M assets under management and offices in Madrid and Mexico City, Seaya transforms early and growth stage companies into category leaders at every level, helping them with their international expansion and creating lasting value. Seaya Ventures has invested in 15 companies so far: Ticketea, Restaurantes.com, Plenummedia, SinDelantal Mexico, Cabify, Comparaguru, Clintu, Percentil, Miora, Pippa&Jean, Spotahome, Hundredrooms, Glovo, Clicars and Yogome.

www.seayaventures.com

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  • The investment round will allow Yogome to reach 1 million subscribers and continue with its geographical expansion.
  • Yogome has become a global leader on digital education.

Mexico City, Mexico – June 1st, 2017. Yogome, a leader on digital education, closed its Series A round with an investment of USD 6.6M from the Spanish fund Seaya Ventures (investor of Cabify and SinDelantal). Additionally, under the leadership of Seaya Ventures, Variv Capital and Endeavor Catalyst had a stake in this round of investment.

Yogome, is an innovative digital education platform with a collection of games for kids ages 6-11 that have been endorsed by Yale University. 95% of its subscribers come from the United States, Latin America and Southeast Asia, and it has presence in more than 50 countries.

With this investment round, Yogome, founded by Mexicans Manolo Diaz and Alberto Colin, sums a total of USD 10M raised to date and becomes the first 100% Mexican startup that raises Series A outside from the fintech industry, so far the largest round for an EdTech company in Mexico.

“As entrepreneur you look for investors that fall in love with your vision from day 1, and that is what we saw in Michael and Seaya’s team since the start. Our objective is to become a global leader, and we are innovating every day in order to achieve it. We are in a high-growth space, and we are convinced that with the investment of Seaya Ventures, a global fund with a track record in scaling businesses, we have the key elements that we need to reach our goals.” said Manolo Diaz.

The funds obtained from the round will allow Yogome to reach 1 million subscribers and to continue its geographical expansion to China, Korea and Japan.

Michael Kleindl, Co-Founder and Managing Partner of Seaya Ventures, now member of Yogome’s Board, said: “Manolo Diaz and his team have built a superb platform for kids edutainment. Yogome has positioned itself to become a global leader in this fast growing market worldwide. We are extremely happy to have the opportunity to join Manolo and Yogome on this challenging way and we are very much looking forward to support the company with our operational expertise in fast growing, internationally expanding businesses.”

 

Yogome –  Yogome creates learning through our fun and engaging game-based curriculum and captivating characters. More than 1,000 mini games and six different apps comprise this personalized learning platform certified by Yale’s Play2Prevent Lab. We are adding new content to the platform every month in eight different subject for grades kindergarten through fifth, available in English, Spanish, Portuguese, and Simplified Chinese. Based in Mexico and the United States, Yogome develops its products for users in 50 different countries and is committed to helping all children learn and prepare for their future.

Website: www.yogome.com

 

Seaya Ventures – SEAYA VENTURES is a Spanish venture fund, founded in Madrid in 2013, that invests in early and growth stage Internet and technology-enabled businesses in Spain and Latin America. With more than €140M assets under management and offices in Madrid and Mexico City, Seaya transforms early and growth stage companies into category leaders at every level, helping them with their international expansion and creating lasting value. Seaya Ventures has invested in 15 companies so far: Ticketea, Restaurantes.com, Plenummedia, SinDelantal Mexico, Cabify, Comparaguru, Clintu, Percentil, Miora, Pippa&Jean, Spotahome, Hundredrooms, Glovo, Clicars and Yogome.

Website: www.seayaventures.com

 

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