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Rankomat is the largest web insurance comparison service in Poland.

Investor: 3TS Capital Partners

Industry: On-line insurance aggregator

Year of investment: 2010

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Company

Rankomat is the largest web insurance comparison service in Poland, offering its customers convenience of online comparisons, as well as telephone advice and sales. By providing both price comparisons and advisory services, customers are able to the purchase services of many insurers within one website. While consumers benefit from making a more informed purchase decision in a timely manner, insurers also benefit from a cost effective means of customer acquisition as compared to traditional distribution channels.

Growth

wykres rankomat

Aggregated number of registered users Unique Visitors (UV)

Main objectives of the funding

  • Supporting the management in building a strong local leadership in the underdeveloped online brokerage segment in Poland and the CEE region.
  • Boosting sales and expanding client base.
  • Optimization of client acquisition costs.
  • Building brand awareness through marketing activities including TV and online advertising campaigns.
  • Supporting the expansion into additional financial products such as loans, bank deposits and accounts among others.

Achievements of the company

  • In the period 2011-2015F, the Company’s revenue has grown at an outstanding CAGR of 86%.
  • The number of registered users increased from 137k in 2011 to over 1.7m in June 2015 supported by the growth of Unique Visitors from 912k to 3.6m in the same period.
  • Expanded product portfolio launching new offers like personal finance products, leasing or travel insurances.

revenue growth at CAGR of
86%

from
137k
to
1,7 mln
increased the number of registered users

Value added by PE/VC fund

Founders have recognized the opportunity to build a market leader within the emerging financial on-line comparison category in Poland. The project, which was inspired by the UK peer’s success, proved to be much more demanding than originally anticipated. 3TS was instrumental in re-directing the business in defining successful business model. As a consequence of adopting a different strategy in early 2011, 3TS has also led some required management changes including replacement of CEO.  In the following years, the Company has experimented with a product and market approach looking for a right balance between policies and leads offered while at the same time gradually improving financial terms with insurers. In December of 2013 Rankomat launched its first TV campaign which proved successful and opened a new opportunity for further scaling up the business. 2014 was another breaking year as the Company launched products within other financial and insurance verticals and at the same time turned EBITDA into black.

An exit was initiated at end of Q4 2014 and attracted a large number of strategic and financial buyers. Rankomat was successfully sold to Bauer Media GmbH in mid of 2015 through a competitive process. 3TS was instrumental in launching the process and running negotiations with shortlisted investors. 3TS has realized close to 6x cash on cash return on that investment with 56% IRR.