Financial aggregator CompareAsiaGroup raises $40m Series A from Goldman Sachs & other investors

Visual from the group's website

Hong Kong-based financial comparison website CompareAsiaGroup, which also operates the Thai website www.moneyguru.co.th, announced it has raised $40 million in series A funding led by Goldman Sachs Investment Partners, Jardine Pacific, Nova Founders Capital, ACE & Company and Route 66 Ventures.

Many other angel investors also joined this round including Zynga’s founder Mark Pincus and former Facebook’s COO and MySpace’s CEO Owen Van Natta.

Till now, CompareAsiaGroup’s has raised a total of about $45 million, including an earlier seed round in September 2014.

Co-founder and managing director Gerald Eder said that the proceeds from the latest round would go toward expanding its financial products and marketing.

Launched one and a half year ago, CompareAsiaGroup operates sites in eight Asian countries, including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. It lets consumers compare credit cards, loans, insurance, and other financial products for free.

The company makes money by partnering with more than 60 banks and insurance companies including HSBC, Citibank and Standard Chartered, and charging them if a user signs up for their services through its sites.

In return, the site help financial institutions to reach more customers without the expense of setting up new branches, hiring more sales agents, or paying for radio and television commercials.

According to e27, the comparison portal is targeting an estimated $52 billion market, which is the current marketing and customer acquisition spend of financial products across its target markets in Asia.

Also read: Antuit raises $56m from Goldman Sachs, Zodius

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.