CompareAsiaGroup, a Hong Kong-based financial comparison platform, raised $40m in Series A funding.
The round was led by Goldman Sachs Investment Partners with participation from Nova Founders Capital, Jardine Pacific, Ace & Company, Route 66 Ventures, Mark Pincus, and Owen Van Natta. As part of the funding round, Goldman Sachs Investment Partners will join the Board of Directors of CompareAsiaGroup.
The company, which has raised to date $45m, intends to use the funds to improve the technology, expand into existing and go into new markets.
Launched in 2014, CompareAsiaGroup provides people across Asia with a comparison platform to save money and make better choices about personal finance with comprehensive, free and independent online comparison tools for insurance, credit cards, personal loans and other financial products. The company, which partners with financial institutions in Asia to compare over 1,500 products, employs 150 financial experts and technologists and has a presence in Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.