TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results'Halomoney.co.id' announces new CompareAsiaGroup investors
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Logo of CompareAsiaGroup (Courtesy of/route66ventures.com)
H
aloMoney.co.id, the Indonesian branch of the CompareGroupAsia financial marketplace and member of the Indonesian Fintech Association, has announced the entry of new investors through CompareGroupAsia's series B funding.
The second round of financing was led by US$15 million from International Finance Corporation (IFC), a World Bank subsidiary engaged in strategic financing, along with a combined total of $50 million from AliBaba, SBI Group and H & Q Utrust.
The group garnered financing worth $40 million in April 2015 from series A investors including Goldman Sachs, Nova Founder Capitals, Stem Financial, ACE & Company, and Route 66 Ventures, who all participated in the second round.
CompareAsiaGroup, a Hong Kong-based business group, manages online financial marketplaces in seven Asian countries: Indonesia (HaloMoney.co.id), Malaysia (CompareHero.my), Thailand (MoneyGuru.co.th), Singapore (SingSaver.com.sg), the Philippines (MoneyMax.ph), Taiwan (Money101.com.tw) and Hong Kong (MoneyHero.com.hk).
The group conducted the the series B to empower consumers and the improve their financial health through matching each consumer with products that best fit their needs and risk profile.
A statement says that with the series B funding, CompareAsiaGroup will expand its business in three ways: first, increase consumer reach; second, investing in developing technology that can provide solutions in accordance consumers' financial needs; and third, for HaloMoney.co.id to continue to build the best team in Asia, including in Indonesia.
"We will build a world-class team within the CompareAsiaGroup, and expand access to provide information services for consumers"≤ said Halomoney.co.id managing director Riko Depari in a written statement on Tuesday. (bbn)
