Gocompare.com

It’s been a special couple of weeks for Gocompare.com. Not only did the Wales-based company win the coveted One to Watch category at Growing Business’ Fast Growth Business Awards, but it also marked the second anniversary of the business. However, Gocompare.com, which was started in managing director Hayley Parsons’ dining room before moving to its current offices in July 2006, has actually been trading for less than 18 months.

Despite this relatively recent naissance, the judges were convinced that revenues will be in the tens of millions within the next two years. This kind of scale is far larger than Parsons, a founding member of Confused.com, originally envisaged. “The original plans were very small,” she recalls. “I took out an initial £500,000 loan to build the service, but then realised I would need to take it further if I was to challenge the dominant players in the market.”

The initial seed was planted when Parsons and four other original Confused.com employees decided that they “could do a better job” than the poster-child for insurance comparison sites. “Insurance is a complex product, people need to find the right product for them,” says Parsons. Visitors to Gocompare.com are able to choose their insurance not just on the basis of price, but also on several other factors regarding their cover.

As a result, “existing players are stepping up their game”, says Parsons. “Gocompare.com has completely changed the landscape.”

Company stats Company: Gocompare.com Founded: 2006 Founder: Hayley Parsons Turnover 2006: Not available Turnover 2007: £123,000 Web:www.gocompare.com