Click n Compare, a South African-focused comparison Web site, is set to invest $500 000 into Kenya and Nigeria, as it seeks to expand its services into these two countries.
In an interview with ITWeb, Ryan Marx, co-founder and CEO of Click n Compare, said Nigeria and Kenya, being huge growth hubs in Africa with strong Internet and mobile penetration, as well as mandatory insurance being enforced, highlights the potential of these two territories.
According to the World Internet Stats, Nigeria - with an estimated population of 177 155 754 in 2014 - has 70 300 000 Internet users. Meanwhile, Kenya - with a population of 45 010 056 - had 21 273 738 Internet users as at June 2014.
"We are currently looking to invest around $500 000 into expansion plans for these two territories for the first 18 months," said Marx.
He noted Click n Compare is expanding its outreach after an outstanding year with a strong month-on-month growth of 40%.
Click n Compare was founded in late 2013 by Marx and Peter Allerstorfer as a comparison engine focusing on hard-to-navigate verticals for the South African consumer, such as mobile, broadband, banking and insurance, (Cnc Lead SA), Marx revealed.
The company quickly expanded into direct sales team (Cnc Connect), bond originator (Cnc Bond) social platforms (Cnc Social) and most recently comparison engines in Nigeria and Kenya (Compare Guru), he added.
"We are also looking to expand into other territories, such as Ghana, and a few others down the line," Marx said. "Our business model is traffic affiliate arbitrage, but more powerful, in which end providers will see the online space as a viable sales channel."
Click n Compare is fully funded by Silvertree Capital, a venture builder that incubates and invests into tech-related businesses targeting African consumers.
The Silvertree portfolio includes businesses in e-commerce retail, financial services and sales, online marketing, travel, and Web and mobile development. Manuel Koser, co-founder of Silvertree Capital, is certain that in just under two years a footprint has been set across Africa and Click n Compare is close to dominating the lead-gen space entirely.
Share