Hong Kong-based financial management platform CompareAsiaGroup has announced the acquisition of Seedly, a finance assistant platform in Singapore.

This strategic investment takes place two years after Seedly was acquired by ShopBack, a discovery and rewards platform that powers smarter purchase decisions.

CompareAsiaGroup is said to have a portfolio of brands across six markets in Asia including Hong Kong, Malaysia, the Philippines, Singapore, Taiwan and Thailand.

Seedly will continue to run as an independently-branded standalone platform working closely with CompareAsiaGroup to further develop the personal finance community in Singapore and beyond.

“We are extremely proud of our teams delivering such strong results in the first half of 2020, especially under these challenging circumstances. And now with the Seedly acquisition and the launch of our new eKos_connect products we are even more optimistic about the future and confident that we will continue expanding our footprint and impact in the region.”

concluded Sam Allen, CEO of CompareAsiaGroup.

COVID-19 has changed the financial landscape towards a more online, self-serve approach. Savvy customers are opting to do their own research to figure out which products are best for them, via content, comparison, discussion and reviews.

Seedly and CompareAsiaGroup’s digital platforms aims to empower people with access to financial information on demand.

“We are immensely grateful for the support from our community members who have been a big part of our story thus far. They have provided us a platform to give feedback to various brands and products across a variety of verticals from savings, insurance, investments and cards. We believe that joining CompareAsiaGroup presents a great opportunity to scale that up with stronger emphasis on deepening that community spirit with more features focused around user engagement”

shared Kenneth Lou, Co-founder, CEO of Seedly.

Featured image: Tee-Ming Chew and Kenneth Lou, Co-Founders of Seedly, screengrab from Youtube