Singapore-based personal finance comparison platform MoneySmart has raised $10m in a series B round led by e-commerce company Kakaku, Tech in Asia has reported.
SPH Media Fund, the corporate venturing arm of media company Singapore Press Holdings, and venture capital firm Golden Gate Ventures also participated in the round.
Founded in 2009, MoneySmart allows users to compare financial products and services such as credit cards, insurance, loans and bank accounts. The site also features blogs, tips and articles about finance and related topics.
MoneySmart will use the latest funding to grow its product development, sales and content teams as it seeks to expand into new markets.
SPH Media Fund and Golden Gate Ventures previously invested in MoneySmart’s $2m series A round in 2015, as did VC firm Convergence Ventures and OPT SEA, the corporate venturing arm of digital marketing firm OPT.
Golden Gate Ventures had previously supplied $500,000 of seed capital for MoneySmart in 2012, according to Crunchbase and Angel.co.
Genta Sugihara, senior executive officer for Kakaku’s corporate development division, is joining MoneySmart’s board of directors in connection with the deal. He said: “Our missions are very similar – help with people’s decision-making.”