Yallacompare Raises $8M
Dubai-based yallacompare has raised $8m in its latest round of funding led by existing investors STC Ventures and Wamda Capital. Argo Ventures also participated in the round.
The investment will be used to expand to Egypt by the end of the first quarter of this year while also increasing market share in the UAE and Kuwait.
“Financial comparison websites in the region is still a nascent business. A big drive is to get people online, there is still a long way to go in bringing offline customers online.” – yallacompare CFO Jonathan Rawling.
While consumers in the region feel comfortable comparing prices online, many still prefer to conclude the purchase offline, usually on the phone. yallacompare is working with insurance companies to automate more of the processes and interactions with customers.
The company’s last round of funding was in May 2017 when it raised $3.5m.