He has also collected considerable experience as an investor himself. The internet entrepreneur comes from a strong background of creating user-friendly technology, having previously been at the helm of dating site eHarmony.ĭuring his time as the managing director of the company, Bellan led on the company’s launch and development strategy – building the service’s profile from the ground up in the Brazilian market. MoneyGuru was founded, and remains managed by George Milford Haven’s business partner, Stanlei Bellan. This is due to the strategic adoption of IT systems which allows for the fast transfer of money. This means that the market for financial services is well-developed and there is a wide range of products available. Brazilian banks are solid and many major international banks have operations in the country. The financial market in Brazil is ripe for innovation, much like the UK’s utilities market was when George Milford Haven saw the gap that uSwitch filled. Minas Gerais followed with 181 and Rio de Janeiro had 125 new firms launched. The largest number of these was in the capital Sao Paulo, which saw 605 new firms. In 2016 there were 2,835 new startups in Brazil. As an indication, one in four Brazilians will look online while sitting watching television. A recent survey showed 13% of Brazilians already go online to check prices on items they are looking to purchase and there have been huge booms in smartphone ownership and use. George Milford Haven has chosen a prime time for investing in the Brazilian market. Around £10 million in investment in the company is expected in 2017. Going forward, MoneyGuru expects to develop its existing partnerships with leading players in Brazil’s banking sector, Itaú and Bradesco. This is a new development in the South American market which has traditionally exhibited significant brand loyalty in financial products.
#Moneyguru financial services full#
This includes the full range of financial services – everything from loans to credit cards. Originally founded in 2013, MoneyGuru provides consumers with an opportunity to compare details of a number of different personal finance products to find the best deal for them. The new business, based in São Paulo, has a number of parallels with George Milford Haven’s former venture in the UK. George Milford Haven, the business brains behind the uSwitch utilities comparison site, has invested a reported £3 million in MoneyGuru, a Brazilian personal finance website.
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