Perth investment management group Braveheart said it had led equity fundraising totalling 5.3 million euros for the fastest-growing insurance comparison site in Italy.
The venture capital and business angel firm said it raised more than a quarter of the total banked by ComparaFinanza.it through its wholly-owned investment network, Envestors.
Braveheart said the Italian firm benefited from rising traffic in a market which remains “relatively undeveloped”.
The portal, based in Rome, is the only aggregator for insurance and financial products which is free, independent and regulated by authorities in both Italy and London.
ComparaFinanza has also begun comparing and selling personal loans and mortgages and is expanding into credit cards and bank accounts.
Fundraising participants include several insurance industry entrepreneurs, while partners include insurance giants like Direct Line, AXA Direct, Admiral and Allianz Direct.
Revenues reached 220,000 euros last year, with managers describing the company as “well positioned to both drive and benefit from industry transformation”.
The four big players in the UK market grossed 676m euros in annual revenues last year.
ComparaFinanza chief executive Robin Daina said the new funding set up the next phase of the company’s growth.
“We have built a strong position in a market that has huge potential,” he said.
Braveheart which offers investment services to high net worth individuals, family offices and public sector organisations looking to invest in small and medium-sized businesses provides equity capital, debt finance and corporate finance advice to firms, while its Envestors arm has helped more than 65 companies raise a total of more than £25m.
Among the networks investments are a therapeutic inflatable pressure vest designed to aid autism sufferers and those who suffer from anxiety related to ADHD, developmental delay, cerebral palsy, dementia and Down’s syndrome.