Yallacompare Raises $4.25m From Kuwait-listed Gulf Insurance Group
Previous investors in yallacompare include STC Ventures, Wamda Capital, DSO and New York-based Argo Ventures
Yallacompare CEO Jon Richards. Image: ITP Media Group
Finance comparison site Yallacompare.com has raised $4.25 million of capital from Kuwait-listed Gulf Insurance Group (gig), the company has announced.
Yallacompare currently accounts for more than 75 percent of online insurance transactions in the UAE.
Following partnerships with Smart Dubai, Etisalat, National Bonds and others, the company says it expects to double market share by the end of the year. It also operates insurance aggregators in Egypt and Kuwait.
“We are delighted to add gig as an investor and partner and have big plans for the next few years,” said Yallacompare CEO Jon Richards. “I believe that the contribution of gig’s regional and industry expertise and yallacompare’s digital capability will combine to deliver innovative products via customer friendly channels to consumers across the region.”
“We are all too aware of how fortunate we are to bring in fresh capital at this time and we very much appreciate the courage that gig have shown to invest in yallacompare in this turbulent economic climate,” Richards added.
Previous investors in yallacompare include STC Ventures, Wamda Capital, DSO and New York-based Argo Ventures.
UAE GPSSA Waives Pension Penalties For 1,906 Small Private Employers
The GPSSA designed the initiative to support small private sector businesses, which contribute to job creation and econ... Read more
UAE Banks Struggle With Employee Digital Readiness Despite Leading GCC Innovation: Report
The findings show that 72 per cent of UAE employees operate in mobile-first environments, reflecting the country's digi... Read more
UAE Real Estate Giant Binghatti Holding Launches $1bn Asset Management Arm In Dubai
Binghatti Capital will implement separate mandates within its real estate strategy Read more
UAE Targets Islamic Finance And Halal Industry Growth As Bank Deposits Hit $162bn And $86bn Export Target Set
The UAE has launched a bold national strategy to boost Islamic finance and halal industry growth Read more
IHC Launches AI-native Reinsurance Platform RIQ From Abu Dhabi With $1bn Backing
IHC launches RIQ, a next-gen AI-driven reinsurance platform based in Abu Dhabi’s ADGM, backed by $1bn and supported b... Read more
Qatar Tax Authority Extends Fine Waiver Until August 31
Qatar’s General Tax Authority extends its 100 per cent Financial Penalty Exemption Initiative Read more