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Oakley invests in Spanish online insurance firm

Oakley invests in Spanish online insurance firm – Oakley Capital Investments says its Fund III has agreed to form a joint venture with Admiral Group and Mapfre S.A. to combine Rastreator Comparador Correduría de Seguros S.L. (“Rastreator”) with Asesor Seguros Online S.L. and Asesor Consumer Services S.L. (together “”), two of Spain’s digital brokers for insurance and other financial products.

Rastreator, a digital insurance broker, was founded in 2009 and allows users to buy insurance, financial products, travel, offers, telephone services, energy, finance and cars by comparing quotations. The business is currently 75% owned by Admiral, a British insurance company specialising in the direct sale of car insurance, and 25% by Mapfre, a Spanish multinational company dedicated to the insurance and reinsurance sectors.  In 2018, Rastreator generated revenues of EUR29 million.

Founded in 2007, is a digital insurance broker which enables consumers to compare prices from over 30 car, motorcycle, health, life and home insurance companies. Currently, is majority-owned by its two founders, Carlos and Mario Brüggemann, who will retain a stake in the combined group following the transaction.  In 2018, Acierto generated revenues of EUR13 million.

Oakley has a successful track record of investing in digital platforms across Europe (including Verivox, Germany’s leading energy price comparison website, and Facile, the price-comparison market leader in Italy). It says that the Spanish market is at an early stage in its development, and therefore presents a similar growth opportunity to that experienced by Verivox and Facile as the market develops.

The company’s indirect contribution through its interest in Fund III is expected to be approximately GBP17 million.

OCI : Oakley invests in Spanish online insurance firm

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