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15/12/2020

Antenna Group And CompareEuropeGroup Announce Joint Venture And Launch Of Pricefox.gr

Athens, December 2020 – Antenna Group, a leading media business and tech investor in SE Europe, and CompareEuropeGroup, an innovative European fintech, today announced the signing of a joint venture for Greece, and the launch of Pricefox.gr.

Pricefox (pricefox.gr) is a new online car insurance aggregator for Greece, comparing prices from both traditional and digital players. It launched Tues Dec 15th. Greece has one of the lowest digital car insurance penetrations in Europe, with only 10% of the population buying online, compared with more than 70% in the UK. Online penetration in Greece is expected to triple in the next few years. Pricefox will accelerate that digitalisation.

The business will be supported by extensive advertising and editorial coverage across the Antenna Media properties, including the #1 TV station in Greece, leading digital websites and extensive radio assets, and CompareEurope’s market-leading tech and digital marketing expertise.  

Antenna’s Amplifier unit partners with VC-backed consumer-facing startups to launch them in the SE and Central European markets. They identify sectors ripe for digitalisation, then find the best partner for each industry. Other joint ventures operated by the Antenna Group include Vice Media and Arianna Huffington’s Thrive Global.

CompareEuropeGroup is the leader in financial price comparison in four markets: Denmark, Finland, Belgium and Portugal, with Greece adding the fifth. Stefan Bruun, their CEO, also launched CompareAsia and Coru (Mexico), together bringing experience in launching comparison platforms in 14 countries, now 15, and serving more than 1 million users in Europe alone.

This combination of media support and price comparison is similar to Future plc’s recent £594m acquisition of GoCompare in the UK and ProSeiben’s ownership of Verivox, a leading site in Germany. 

Greg Miall, Managing Director of Antenna Amplifier commented: “We extensively scouted the leading price comparison businesses across Europe and found a world class partner in CompareEuropeGroup. Their fintech knowledge and implementation excellence have combined with Antenna’s media power and local expertise to create what should be a great business.”

Stefan Bruun, the CEO of CompareEuropeGroup and Partner at Nova Founders Capital continues: “SE Europe is one of the last great untapped opportunities in digital consumer tech. We are very excited to partner with Antenna Amplifier to launch in Greece and are looking forward to building a great business together.”

Dimitris Tsatiris, the Managing Director of Pricefox mentioned: “Greek consumers have rapidly adopted digital channels during COVID. This vote of confidence on the Greek startup ecosystem from two such experienced and capable partners speaks volumes about the potential and capabilities of the Greek economy.”