ASIA-FOCUSED financial services platform, CompareAsiaGroup, is being infused with $40 million, in a move seen to improve its offered services in the Philippines.
The Hong Kong-based start-up announced in a statement on Wednesday that it is set to receive fresh funding from a slew of investment partners, led by hedge fund Goldman Sachs Investment Partners team, along with Jardine Pacific, Nova Founders Capital, ACE & Co. and Route 66 Ventures.
The company has presence in the Philippines through MoneyMax, an online, financial and telecom service comparison web site. “This new round of investment will further enhance our market-leading offering to consumers in the Philippines with improved services, widening of our partner network and additional marketing initiatives,” said Jorrit Koop, managing director for MoneyMax Philippines in the statement.Â
CompareAsiaGroup has presence in eight Asian markets, offering a Web-based comparison service for personal finance services, like  credit cards, loans, to broadband and car insurance.
The site gives consumers a menu of services that best match their price and needs, and gives  banks and insurers a new channel to reach customers, cutting down their marketing and distribution costs.