Experian Leads US$20M First Close of Series B1 Investment in CompareAsiaGroupby Fintechnews Singapore August 6, 2019
Experian, a global information services provider, is leading the US$20 million first close of Series B investment in CompareAsiaGroup, a comparison site with significant presence across Asia.
Founded in 2014, CompareAsiaGroup claims to reach 60 million users across six markets including Hong Kong (MoneyHero.com.hk), Singapore (SingSaver.com.sg), Taiwan (Money101.com.tw), Malaysia (Comparehero.my) and Thailand (MoneyGuru.co.th).
According to their media release, the funds will be used to enhance the use of data-driven technologies, offering customers more personalised services with new levels of innovation, efficiency, and scalability.
CompareAsiaGroup has raised more than US$90 million in total funding from investors, including IFC, a member of the World Bank Group, Goldman Sachs Investment Partners VC and Growth Equity, ACE & Company, Jardines, Alibaba Entrepreneurs Fund, SBI Group and H&Q Utrust.
Experian’s investment in CompareAsiaGroup is the latest in a series of investment into comparison sites, in 2017 Experian led Bank Bazaar’s US$ 30 Million round and subsequently in 2018 they led Malaysia-based Jirnexu’s US$10 Million round. Experian was also reported to have invested an undisclosed sum in Grab’s Series H round.
These series of investment points towards Experian’s appetite towards investing in Asian startups that has a data play.