ComparaOnline offers educational financial tools in Chile, Brazil and Colombia, focused on insurance, consumer loans and credit cards.
Latin American technology companies continue to gain appeal among venture capitalists. Chilean startup ComparaOnline has raised $ 14 million to accelerate the development of its financial information tools for Latin America.
The Santiago-based company is now backed by private equity firm Bamboo Capital Partnersand International Finance Corp. , the investment arm of the World Bank Group.
ComparaOnline offers financial education tools to consumers in Brazil, Chile and Colombia. For now, the company is focused on information services for auto and travel insurance, consumer loans and credit cards. These businesses are new to Latin America and are growing rapidly in the region.
Founded eight years ago by Chilean businessman Sebastián Valin, ComparaOnline currently serves more than one million active monthly users, according to TechCrunch . The company had closed two previous rounds with regional investment firm Kaszek Ventures and investors in financial technology Ribbit Capital and Rise Capital.
The last round was scheduled for 2013. Since then, ComparaOnline has expanded to Brazil and Colombia and has begun to work on new categories such as credit offers . While similar tools such as Credit Karma, CreditSesame and Credit.com have established themselves in the United States, the market for valuation and credit management is less mature in most Latin American countries, where consumer credit is still starting to gain ground .
By far the most advanced of these markets is Brazil , where ComparaOnline now has a foothold and will expand even further, taking advantage of this latest round of financing, the startup has advanced.