Chilean financial industry startup ComparaOnline has secured $14 million USD in a series C investment from Singapore-based private equity firm Bamboo Capital Partners and the World Bank’s International Finance Corporation (IFC).
The company, which focuses on providing financial education tools for consumers to learn more about and secure credit cards and various insurance products, plans to use the incoming capital to scale up its tech platform and incorporate machine learning capabilities aimed at improving the user experience.
It also expects to devote some of the new resources to strengthen its operations in Brazil and expand into other Latin American countries. This strategy aligns with how ComparaOnline used its last round of funding in 2013, which helped the startup expand into both Brazil and Colombia.
The company was founded in 2009 by Sebastian Valin of Chile. Kaszek Ventures, Ribbit Capital, and Rise Capital are among the previous investors.