Great to see FinTech in Asia also taking off!...you could argue that the comparison portal growth took place 10 years ago in Europe with Check24, Compare the market, etc. Would be interesting to see if CompareAsia is Generation 2.0 or whether this shows that a whole wave of copying FinTech out of US/Europe should be rolled out in Asia?
CompareAsiaGroup, which runs websites that help users find financial services, has raised a $40 million series A led by the Goldman Sachs Investment Partners team. Other investors include Nova Founders Capital (a venture firm that is also one of CompareAsiaGroup’s founders), Jardine Pacific, Ace & Company, Route 66 Ventures, Zynga-founder Mark Pincus, and Owen Van Natta, who has held senior positions at Facebook and MySpace. CompareAsiaGroup’s total raised to date is now about $45 million, including an earlier seed round. CompareAsiaGroup currently operates sites in eight Asian countries (Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam) . It makes money by partnering with some companies (it currently works with 60 brands, including HSBC, Citibank, and Standard Chartered) and charging them if a user signs up for their services through its sites.