CompareAsiaGroup, a Hong Kong-based financial management platform for banking and insurance products and services, raised US$20m in the first close of Series B1 funding.
The round was led by global information services company Experian.
The company intends to use the funds to enhance the use of data-driven technologies. Through this investment, and subsequent access to Experian’s technology, CompareAsiaGroup will intensify its focus on delivering enhanced customer solutions.
Founded in 2014 and led by Sam Allen, Chief Executive Officer, CompareAsiaGroup provides a personal finance platform featuring independent online comparison and education of over 150 financial products (including credit cards, best personal loans, and insurance products) and reaching over 60 million users across six markets including Hong Kong (MoneyHero.com.hk), Malaysia (CompareHero.my), the Philippines (Moneymax.ph), Singapore (SingSaver.com.sg), Taiwan (Money101.com.tw) and Thailand (MoneyGuru.co.th).
The company has raised more than US$110 million from investors including Experian, IFC, a member of the World Bank Group, Goldman Sachs Investment Partners VC and Growth Equity, ACE & Company, Jardines, Alibaba Entrepreneurs Fund, SBI Group, H&Q Utrust, Stem Financial, and Route 66 Ventures.