The proceeds will be used to enhance the platform’s search and match functionality and finance hiring.
Singapore-based financial comparison platform GoBear has raised $108.96m (US$80m) in funding to date from Dutch venture capital fund Walvis Participaties and financial services provider Aegon N.V.
The firm said that these funds will be utilised to further enhance areas of product and technology as well as filling in key roles. Improvements to the platform’s search and match functionality will also include forming partnerships with, and investments into, other technology companies.
“Specific areas include customer onboarding and fulfilment solutions, personal financial management, alternative credit scoring, financial education, and investment platforms,” said Adrian Chng, CEO of GoBear.
Founded in 2015, GoBear is a platform that compares insurance plans, credit cards, loans and banking products for its users. The firm has expanded to various markets, including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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