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Argo Group arm invests in insurance comparison platform

Argo Ventures was a lead investor in yallacompare's new funding round, during which the Middle Eastern insurance comparison platform raised $8 million.

Argo Ventures is the investment arm of Argo Group International Holdings Ltd. that focuses on financial technology companies. The other lead investors include STC Ventures, which is managed by Iris Capital, and Wamda Capital.

Proceeds will be used to grow Dubai-based yallacompare's workforce by up to 50%, according to a news release. The company operates in nine Middle Eastern countries, including the United Arab Emirates, Qatar, Saudi Arabia and Egypt.