During September 2022, the Investment Committee of VPEG5 approved a $1 million co-investment into Compare Club, alongside Next Capital Fund IV (a VPEG3 investee).
Compare Club (“CC”) is a leading personal finance comparison site operating across Australia, providing a comparison opportunity for customers across various types of insurance and loan products, as well as providing brokerage services. Originally created in 2017 via the merger of Choosewell (health insurance sales brokerage business) and Alternative Media (a specialist digital lead generation business), today CC has engaged over 3.7m members over time across its key verticals of health insurance, life insurance and home loan products.
In February 2024, VPEG5 acquired an additional $1m stake, via a secondary share sale, in its co-investment in Compare Club managed by Next Capital Fund IV.
VPEG5 previously co-invested $1m in Compare Club in September 2022, at the same time Next Capital Fund IV originally invested. The secondary acquisition by VPEG5 in the March quarter reflects strong trading performance in Compare Club to date, and an optimistic outlook of forecasted trading and earnings growth in the future.
Compare Club is a leading personal finance comparison site across Australia, providing a comparison opportunity for customers across various types of insurance and loan products, as well as providing brokerage services.
Compare Club currently provides comparison and brokerage services for health insurance, life insurance and home loan products. The business is also looking to expand further into new verticals. Compare Club has deep rooted relationship with a blue-chip product provider base, working with key domestic and international providers.
The comparison site market continues to experience significant industry tailwinds, aided by an increase in financial product participation, accelerated rate of customer switching and growing share of products sold via comparison channels.
