03.07.2020

Compare & Connect raises $10m to accelerate growth

We are pleased to advise that we have acted as corporate advisor on a $10m equity capital raise for Compare & Connect. The funds raised will be used to pursue an aggressive acquisition strategy, including expansion into international markets with several acquisition targets already identified with a view to completing these during the 2021 financial year.

The capital raise continues the momentum following the recent acquisition of YourPorter and joint venture with Loan Market Group (affiliate of Australia’s largest real estate, Ray White Group).

The Brand Behind the Brand

Compare & Connect was established in 2014 by CEO, Neil Saligrama and offers technology-driven white labelled utility comparison and connection services. The platform powers many leading Australian comparison brands and real estate agencies who refer their customers to connect for essential services.

Known as the “brand behind the brand”, Compare & Connect services and supports all platform customers from its Melbourne CBD offices where all 150+ employees are located.

A Transformational 12 months

Compare and Connect today offers comparison and connection services for all major consumer needs, including Electricity, Gas, Water, Internet, Pay TV & Telecommunications. Future business prospects include offering real estate partners CRM platform plugged with General Insurance to manage their properties.

“The past 12 months have been a transformational period for Compare & Connect. We have been able to continue to grow earnings against the backdrop of buying out our 50% partner, Domain Group, bolstering our management team with key appointments of C-Suite staff, completing our first acquisition and joint venture, and investing aggressively in our technology platform to offer superior customer experience across all our partners. Our focus on technology and innovation has enabled us to become an omni-channel business which is well positioned to connect over 200,000 services in FY21.”

 Mr Neil Saligrama, Founder and CEO of Compare & Connect

 

Capital Raising with Doma

Earlier this year, Compare and Select appointed Henslow as Corporate Advisor to assist in the raise of the full $10m requirement from Doma in record time.

“After our first meeting with Neil we knew the Compare & Connect business was a fantastic investment opportunity. We love that they are a great Australian business with all their employees based in the heart of Melbourne’s CBD. Doma are excited by the rapid expansion plans in place and look forward to a long and prosperous partnership with Neil and his highly competent team.”

 Jure Domazet, Managing Director of Doma

Doma are a family business based in the ACT with its origins in property development, property investment and hotels. In recent years, they have started leveraging their success in property to invest more broadly, particularly in opportunities that have adjacencies with their existing businesses.

This is a new relationship and we congratulate Neil and his team of what they have been able to accomplish to date and look forward to continuing to work together as Compare & Connect embarks on the next phase of growth.

Want to discuss this transaction further?
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