Endeavor Chile Company ComparaOnline Acquires Endeavor Colombia Company ComparaMejor
Endeavor Chile company ComparaOnline announced this September their acquisition of ComparaMejor, an Endeavor Colombia company. The acquisition is part of ComparaOnline’s expansion strategy, following on a July 2017 fundraising round of $14 million.
ComparaOnline, led by Endeavor Entrepreneur Sebastián Valin, is a financial service comparison website focusing on the insurance market. Today, ComparaOnline is active in Chile, Argentina, Brazil and Colombia. Sebastián was selected into the Endeavor network in 2012, and since then, the company has leveraged the Endeavor network to quickly scale, connecting with strategic mentors and raising $2.5 million from Kaszek Ventures, a firm run by MercadoLibre alums Hernán Kazah and Nicolas Szekasy. In 2013, ComparaOnline signed a strategic alliance with Buscape, leading e-commerce site in Brazil founded by Endeavor Brazil Board Member Romero Rodrigues.
Through Endeavor again, Sebastián met Fernando Sucre and Omar Ynzenga, the founders of leading Colombian car insurance marketplace ComparaMejor, which joined the Endeavor network in 2017.
As Sebastián looked to expand further into Colombia and improve their customer experience for all, a collaboration was natural. Sebastián’s goal is to grow ComparaOnline’s footprint into Colombia by 180% by the end of 2019 — the 10th anniversary of the company, at which point ComparaOnline will undergo a brand overhaul to unify the two companies further.
“Through the Endeavor network, I became acquainted with Fernando and Omar. They have done admirable work, and thanks to their efforts they have become the leaders in Colombia. It will be an honor for us to continue to engage these Endeavor founders in our business,” says Sebastián.