CompareEuropeGroup, the UK-headquartered operator of an online platform for financial management, has raised €20m ($21m) in a series A round featuring a strategic investment by financial services firm SBI Holdings.
The round included Pacific Century Group, the investment fund representing the Li Ka-shing family, as well as private equity platform Ace & Company, investment firm Nova Founders Capital and angel investors Mark Pincus and Peter Thiel.
Founded in 2015, CompareEuropeGroup has built a platform that enable users to receive automated advice on a range of financial and home services such as insurance, personal loans, credit cards and broadband subscriptions.
The company, which currently operates in Denmark, Portugal, Finland, Belgium and Norway, plans to put the funding towards enhancing its platform, beefing up its big data and machine learning capabilities in the process.
CompareEuropeGroup itself has not disclosed any earlier funding, but Denmark-based subsidiary Samlino.dk raised $2.2m from Nova Founders Capital and angel investors including Thorleif Krarup, Waldemar Schmidt and Lars Seier Christensen in 2015.