SA’ Silvertree expands footprint in Nigeria

February 8, 2017 10:50 am0 commentsViews: 8

SilvertreeLAGOS, (CAJ News) – SILVERTREE, Africa’s leading internet platform, has acquired Nigerian price comparison site, TopCheck, for an undisclosed amount.
Silvertree has been actively acquiring Nigerian technology companies in the past, having taken over Nigerian insured (dot) ng from Spark (2015) and deals site Dealdey (2016) from Kinnevik.
Silvertree is a Cape Town based internet holding company which owns and operates assets across Africa.
TopCheck will join Silvertree’s subsidiary Compare Africa Group (CAG). CAG is active in South Africa, Kenya and Nigeria, offersing online price comparison of goods and services through various websites.
The group owns financial services websites Compareguru, as well as product comparison site PriceCheck which was recently acquired from Naspers.
TopCheck is Nigeria’s leading price comparison site for financial services offering free online comparison for insurance products, loans and broadband internet plans.
“The TopCheck team is excited to join forces with Compare Africa Group.
Together, we are forming Africa’s undisputed leader in price comparison”, said TopCheck founder Thomas Pilar.
Manuel Koser, co-founder and Managing Director of Silvertree, explained the enormous potential in the comparison space.
TopCheck recorded fast growth in 2016, processing up to N3 billion (US$10 million) in Gross Application Value per month.
“We want to replicate the success of Check24 in the German financial services and insurance comparison space. TopCheck joining our portfolio is another step in building Africa’s largest comparison conglomerate,” said Koser.
CAJ News

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