Singapore-based loan and insurance comparison app developer GoBear has raised $17m from life insurance and asset management firm Aegon and venture capital firm Walvis Participaties, TechCrunch reported yesterday.
Founded in 2015, GoBear has built a metasearch engine that lists more than 2,000 personal financial products provided by banks and insurance providers, leveraging data analytics rather than traditional risk scoring to facilitate more loans in underbanked Asian economies.
The same two investors had provided $80m for the company in a round that closed in May 2019. The latest funding will help it expand across its seven current markets: Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
GoBear had acquired Philippines-focused consumer lending app provider Asiakredit earlier this month to beef up its presence in the country and gain access to more transactional data in order to score loan applications.