TopCheck has announced it has raised 1 Million Euros to scale up its operation in Nigeria. The platform founded by a team of international entrepreneurs offers users the opportunity to compare prices of financial products and services such as car insurance.
The platform which launched in Nigeria in January 2015 has witnessed tremendous growth and has secured funding from European investors to further expand its operations in Nigeria.
TopCheck is the ‘‘Bankrate of Africa“, a price comparison platform for financial services. On TopCheck, African users can currently compare and buy insurances. Further financial products will follow. We bring a business model that is very successful in Europe and the US to the growth market Africa.‘‘ says founder Thomas Pilar.
“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“, Pilar explains further. “And as a founding team with many years of internet experience, we’re very well set to be the number one player in this space“.
Price comparison sector is just beginning to gain momentum in Nigeria as more and more users tend to purchase not just product but also services online. This is evident as Topcheck earlier raised an undisclosed six digit Euros first fiancing round in March 2015 from undisclosed European investors.
The founders, who have founded their own companies in the past, have previously worked for Google, Rocket Internet, PricewaterhouseCoopers, DailyDeal. This convinced renowned investors. The globally active venture builder Mountain Partners could be won as lead investor, as well as business angel Dr. Cornelius Boersch. Boersch brings along the European Investment Fund as co-investor. The founders of Trivago are investing, joined by the business angels Alexander Fugger, Ron Hillmann, who also helped with investor acquisition, Martin Scherrer (former CFO of Comparis, the Swiss comparison site), the co-founder of Rocket Internet’s Lendico Clemens Paschke, the founders of Radcarpet Florian Resatsch and Uwe Sandner, and Ferdinand v Kalm (former Rocket Internet COO).
TopCheck is providing a centralised information source for Nigerians to compare and buy services online, additional markets and verticals are in preparation.
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