Turkey’s leading online comparison platforms Koalay.com and Hesapkurdu.com merged as of 19 February 2019. Merger of these two e-commerce entities that operate in the loan aggregation and insurance aggregation markets has brought 40 banks and insurance companies under the same roof.
Bradley Du Chenne, Chairman of the new company, commented on the merger and said: “Over the years, Koalay.com has successfully partnered with different businesses with established distribution along different formats. Koalay.com and Hesapkurdu.com started exploring a partnership agreement on this basis but quickly saw a bigger opportunity to align ourselves more closely and initiated merger discussions. Hesapkurdu.com are extremely successful at generating significant volumes of visitors to their website and we are excited about the opportunities that present themselves for Hesapkurdu to strengthen their insurance sales via Koalay.com infrastructure.
Koalay.com has built a strong third party distribution network over the years, which Hesapkurdu.com will now leverage to broaden its distribution opportunities. We are eagerly anticipating great things from the collective contributions of both the Hesapkurdu.com and Koalay.com teams.”
Ömer Paksoy, Founding Partner of Hesapkurdu.com and the CEO of the new company, stated that the merger brought Turkey’s leading financial comparison platforms together and underlined its importance for Turkish consumers as follows: “Our target is to make sure that our customers reach the most affordable loan and insurance products in the fastest way possible. To this end, we have combined Hesapkurdu.com’s loans infrastructure infrastructure and Koalay.com’s insurance infrastructure and experience. In order to enhance the value offered to our customers, we are planning deeper integration projects to include all banks and insurance companies in the coming term. Our merger with Koalay.com will strengthen and accelerate us towards reaching our goals.”
Onur Tekinturhan, Founding Partner of Hesapkurdu.com, underlined that the funds they have brought into Turkish market thanks to this merger would be utilized in developing applications that will increase the financial literacy of Turkish consumers. He added: “We believe in the importance of transparency for consumers to make the right decisions and reach the products with most affordable prices. We are currently acting as an intermediate for hundreds of thousands of users to apply for loans thanks to the infrastructure we provide and the trust we have created. In the coming term, we will expand our educational content and calculation tools to include insurance products as well.”
Hesapkurdu.com is a website and mobile application that can be used free of charge for research, comparison and application purposes while searching for loans and insurance products. It enables customers to reach the most advantageous and up-to-date offers by banks and insurance companies, while helping them get swift results and make the right financial decisions. Hesapkurdu.com, a platform offering services to 4 million customers per month, promotes loan and insurance products by more than 30 banks and insurance companies, calculates and compares, and supports their customers by answering their questions.
Founded by Turkish entrepreneurs who are experienced in the finance sector in 2010, Hesapkurdu.com added the founder team of MutujOnline – leader of the Italian market, and NN Group - the Dutch company offering services to 17 million customers in 18 countries, among their investors respectively.
Hesapkurdu.com was elected as Turkey’s 7th fastest growing company by the Union of Chambers and Commodity Exchanges of Turkey between 2011 and 2013, and was listed among Turkey’s 50 fastest growing technology companies by Deloitte between 2013 and 2016.
Hesapkurdu.com aims to increase financial literacy rate of the society by making loan and insurance products more transparent; therefore, becoming the first stop for those looking for information on loans and insurance products.
Koalay.com is a company running BHL’s (Budget Holdings Limited) operations in Turkey. BHL has operations in South Africa, UK Australia, France, Singapore, Thailand, China, and of course, Turkey.
The group has 30 years of experience with leading brands in price comparison in the UK and Australia as Compare The Market, as well as Hippo.co.za in South Africa, Easy Compare in Thailand, and Koalay.com in Turkey. The group also takes its part in the international insurance market as it owns insurance companies and brands with the likes of Auto & General and Budget in Australia, and Auto & General, Budget, Dial Direct, First for Women and 1Life in South Africa.