Moneymax’s Parent Company, CompareAsiaGroup, Raises $20M in Experian-led Series B1 Investment
Published: August 7, 2019 | Updated: April 7, 2020 | Posted by: Mayee Gonzales | Personal Finance
CompareAsiaGroup, Moneymax’s parent company, welcomes Experian as a new investor, leading the latest US$20 million first close of our Series B1 round of funding alongside a strategic partnership.
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What is Experian?
Experian is the world’s leading global information services company. They empower consumers and their clients manage data with confidence. They help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
Experian operates across 39 countries. They are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
What does this mean for us?
CompareAsiaGroup’s position as one of the leading online financial marketplaces in Asia makes it an ideal partner for Experian as both companies have a shared mission to improve the financial lives of consumers.
Apart from the funding, CompareAsiaGroup and its subsidiaries in four markets (MoneyHero in Hong Kong, SingSaver in Singapore, Money101 in Taiwan, and MoneyGuru in Thailand) will benefit from utilizing Experian’s technology, particularly Experian One, Experian’s cloud-native platform. This will deliver access to Experian’s Digital Onboarding Platform, Decision Management, and Eligibility Scoring services.
With this, CompareAsiaGroup is able to intensify its focus on providing enhanced customer solutions.
This partnership further strengthens our ability to empower people to build healthier financial lives, a shared mission for both CompareAsiaGroup and Experian. We look forward to connecting more customers with the right products, especially consumer loans and cards, and offering a secure and integrated digital experience that is unique to each customer.
With this latest investment, CompareAsiaGroup has raised more than US$110 million in total funding from investors, including Experian, 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.
- TechCrunch: Financial services marketplace CompareAsiaGroup raises $20 million in new funding led by Experian
- Markets Insider: Experian Leads US$20M First Close of Series B1 Investment in CompareAsiaGroup
- Deal Street Asia: UK’s Experian leads $20m investment in HK-based CompareAsiaGroup
Mayee is an experienced writer, editor, and content strategist. She enjoys writing about personal finance and lifestyle topics. On her free time, she reads, travels, and watches a lot of movies. She’s also a proud cat-mom. Follow Mayee on LinkedIn.