SmartHippo Expands into Spain with Launch of

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Joint venture with Financialred Networks poised to become leading player in market

SmartHippo, the first web site that let consumers use the power of the community to shop for financial products, announced today a strategic partnership with Financialred Networks which will see the launch of in the Spanish market.

Under the terms of the agreement, FinancialRed has acquired an exclusive license to market the SmartHippo brand and technology platform in Spain.

"The web finance space is in its infancy in Spain and we believe we have an opportunity to rapidly establish HipoListo as the dominant player in a market of 50 million consumers" said Jesus Perez, Chief Strategy Officer of FinancialRed. "By leveraging the SmartHippo platform we were able to significantly reduce our time to market."

As part of the partnership, SmartHippo will manage the software platform while FinancialRed focuses on localization and sales and marketing. As of today's launch, is focused on the mortgage vertical, with other verticals planned for early 2010, he added.

"We're thrilled to be a partner in bringing the first social financial comparison shopping engine to Spain," said Lori Collins, CEO of SmartHippo. "Our partnership with FinancialRed signifies our commitment to work with and drive profitability to media companies with existing user bases."

Separately today, SmartHippo announced that Collins, formerly GM at LendingTree, has joined the company as its new CEO, taking over from George Favvas, who will remain onboard as Founder and VP Corporate Strategy.

About SmartHippo is the first-ever website that uses the power of community to help consumers find the best mortgage rates and save money. SmartHippo allows any individual to post information and feedback on the rate they received, and to compare rates with other members of the community with similar profiles. Members of SmartHippo can see real rates reported by real consumers, and sort through banks based on feedback posted by other members of the community. The company is privately held with offices in San Francisco and Montreal.

About Financialred Networks

Financialred Networks is the leading finance 2.0 media company in Spain. Its more than 90 web properties generate over 1 million uniques visitors per month. The company is privately held and based in Madrid.


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