Comparison Creator, the comparison software development company, has been bought out by its Managing Director and founder Steve Jones, as well as minority investors, with investment from financial information business Defaqto.
As part of its strategic growth plan, the Cwmbran based business has also agreed a partnership with Defaqto, who help consumers make better informed decisions. Defaqto will provide Ratings and data to Comparison Creator. Comparison Creator plans to triple its workforce by the end of 2017.
Launched in 2010, Comparison Creator provides a white-label breakdown comparison service for Gocompare.com, Moneysupermarket, Confused.com and Comparethemarket.com. It also provides home emergency comparison for Gocompare.com and Comparethemarket.com.
Comparison Creator Managing Director Steve Jones founded the company after working in the insurance and comparison industry for more than 25 years. He developed the Gladiator Commercial brand for Admiral insurance and became its managing director, before leaving in 2003.
Speaking about the buy-out, Steve Jones said: "This investment marks the next step in the development and evolution of Comparison Creator. After trading successfully for seven years we found ourselves at a point where we needed to refinance and re-position ourselves to build on the amazing growth we've achieved to date.
"Having a company like Defaqto take a minority stake and join us as a strategic partner is wonderful news for Comparison Creator. We already use Defaqto ratings and data, but this investment enables us to grow and restructure the business which will mean we can offer a lot more to our customers in the future.
Steve Jones remains Comparison Creator's Managing Director. The company currently employs six people at its Llantarnam offices, with plans to triple its workforce by the end of the year.