Masii.com, a Bangkok-based online comparison platform for financial products, has completed a 77 million baht ($2.43 million) Series A round to accelerate its growth and scale up new verticals.
The round was led by Thai conglomerate B.Grimm and new investor European Venture Capital fund, Masii co-founder and CEO Max Meyer told DEALSTREETASIA. He did not disclose the company’s valuation or other financial terms.
Founded by Meyer and Matthias Jurgens, Masii.com enables its users to compare financial products such as credit cards, insurance and personal loans via its online platform. It grabbed seed funding of an undisclosed amount from B.Grimm in February 2016.
Masii.com has grown from 9,000 monthly customer applications in January 2017 to over 65,000 monthly applications in December 2017, Meyer said. It also claims to have received $341 million in total applied credit in 2017.
The platform added five new verticals in 2017 and has already launched two new verticals including mortgage and savings this year.
“We want to grow more as a trusted customer advisor with greater focus on personalized customer service. Apart from expanding products and services, we will continue growing the team. In 2017, our headcount increased from 20 to 36,” he said.
It plans to use the latest proceeds to further develop the advanced credit scoring and lending eligibility models as well as triple its monthly applied loan volume and diversify into home mortgage, refinancing and larger ticket items.
“We’ve really taken the company back to basics: How can we reach the most customers possible for the lowest cost, and how can we serve them best? We have a lot of space to improve, and we’re extremely excited about – and take very seriously – our role in helping Thais find the best possible solution for themselves and their families,” said Meyer.