Cardiff's ActiveQuote creates 70 new jobs with £2m investment

ActiveQuote managing director Rob Saunders said it was an "exciting time" in financial technology

A Cardiff comparison website provider and insurance broker is to create 70 new jobs as part of a £2m expansion.

The investment by ActiveQuote, which is based in Cardiff Bay, is backed by £400,000 from the Welsh Government and will increase its workforce to 190.

It will allow the firm to develop enhanced online quote comparison services using artificial intelligence.

Economy Secretary Ken Skates said it was a "valued member" of Wales' financial technology (FinTech) cluster.

The Welsh Government, which invested £600,000 in ActiveQuote in 2014, said the firm had "achieved significant growth" over the past three years.

Mr Skates pointed out three of the "most prominent" UK FinTech companies - GoCompare, Confused.com and MoneySupermarket.com - were "indigenous companies, headquartered in Wales".

"ActiveQuote is a long-term partner of these Welsh business success stories," he added.

"Wales has a growing reputation as a prime location for the FinTech sector and, on a pan-European level, Wales is a key player and recognised as an exemplar for financial aggregator-site technology."