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Nigerian financial comparison startup TopCheck has announced an investment of 1-million Euros (around US$1.1-million).
The website will enable Nigerians to compare and buy insurances online. It also plans on adding a range of other financial services within the near future.
Company founder Thomas Pilar elaborated in a recent press release sent to Ventureburn:
With TopCheck, African consumers can finally enjoy the security and convenience of buying financial services online. We bring transparency to a market that traditionally suffers from inefficiency. Our customers can compare prices and save money.
TopCheck was founded by an international team of entrepreneurs who have worked at renowned companies like Google, Rocket Internet and PwC.
Pilar added that TopCheck introduces a business model that is very successful in Europe and the US to the growth-market Africa.
The recent investment was lead by Switzerland-based Mountain Partners.
The global venture builder joins the European Investment Fund along with a group of angel investors, namely Cornelius Boersch, Alexander Fugger, Ron Hillmann, Martin Scherrer, Lendico Clemens Paschke, Florian Resatsch, Uwe Sandner, and Ferdinand v Kalm.
According to VC4Africa, TopCheck launched in January this year and then closed a “six digit Euros financing round” in March.
This announcement comes soon after South Africa’s Click n Compare revealed that it’s setting up shop in Nigeria and Kenya.