SEP has taken an undisclosed minority stake in the London business, which is an advertiser of financial services and owns comparison site TotallyMoney.com, as part of the fundraising. The investment will fund a growth strategy that plans to develop a range of own-brand financial products.
Launched in 2006, Media Ingenuity claims TotallyMoney.com receives more than one million unique visitors a month. According to a statement, the business plans to further diversify and launch other products following the creation of an online travel insurance service Fluid and credit card Granite.
Media Ingenuity co-founder Will Becker comments, ‘The deal will enable us to strengthen our offering in existing verticals and move rapidly to exploit the very exciting opportunities we have identified in new areas.’