NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, July 17, 2017

CompareAsiaGroup, which runs online financial marketplaces in seven Asian countries, has closed a $50 million Series B. The round was led by the International Finance Corporation (IFC), a member of the World Bank Group, and includes capital from new investors Alibaba, SBI Group and H&Q Utrust. Returning investors like Goldman Sachs Investment Partners, which led CompareAsiaGroup’s $40 million Series A in 2015, Nova Founders Capital, ACE & Company and Route 66 Ventures, also participated.

CompareAsiaGroup claims that more than 28 million people used its sites last year, making it the largest personal financial management platform in Asia.