Go.Compare swoop for Rnwl could hit £63m value in 5 years

The deal is an incredible success story for Rnwl founder Goncalo de Vasconcelos, who has sold the business. Its registered office is listed as St John’s innovation Centre. Founded by the FinTech entrepreneur, Rnwl kept its promise to revolutionise the process of identifying the best, most cost-efficient and reputable insurance when renewal time arrived.

It earned major investment in crowdfunding rounds and early backers include some of Cambridge’s best-known investors – Simon Thorpe, chairman of Cambridge Angels, Google’s William Russell and serial life science entrepreneurs Jonathan Milner and Sunil Shah.

Goncalo de Vasconcelos preferred not to comment when reports of the deal were put to him but Companies House records his departure and GoCompare as new owner.

It is the entrepreneur’s second major success. He was also CEO and co-founder of multi award winning online investment platform SyndicateRoom.

And he was considered one of the Top 10 most influential people in tech in the UK at the Tyto Tech 500 Power List as well as one of the Top 40 most influential people in FinTech in Europe.

GoCompare became known for its colourful TV adverts starring Welsh opera singer Wynne Evans who reportedly stepped aside after complaints about remarks to a Strictly dance partner which he maintained were taken out of context.