- Seedly joins CompareAsiaGroup’s portfolio of financial services brands spanning six markets across Asia.
- This deal brings together the combined strength of Seedly’s community and CompareAsiaGroup’s established partnership networks to support their shared mission of empowering people to build healthier financial lives.
- CompareAsiaGroup has over 10 million monthly users and is led by an experienced management team in financial services with more than US$110million raised from investors such as Experian, IFC, a member of the World Bank Group, Pacific Century Group, Goldman Sachs Investment Partners VC and Growth Equity.
- Seedly will continue to run as an independently branded standalone platform.
SINGAPORE, Oct. 30, 2020 /PRNewswire/ — Seedly, the largest Personal Finance community in Singapore, is joining forces with CompareAsiaGroup, Asia’s leading techfin company, with a portfolio of brands across six markets in Asia including Hong Kong, Malaysia, the Philippines, Singapore, Taiwan and Thailand.
First row left to right: Prashant Aggarwal (CCO of CompareAsiaGroup), Sam Allen (CEO of CompareAsiaGroup) and Shaun Kraft (CFO of CompareAsiaGroup) Second row left to right: Tee-Ming Chew, (Co-Founder, CTO of Seedly), Kenneth Lou (Co-founder, CEO of Seedly)
This strategic investment takes place two years after Seedly merged with ShopBack, a one–stop discovery and rewards platform that powers smarter purchase decisions.
Seedly will continue to run as an independently branded standalone platform working closely with CompareAsiaGroup to further develop the Personal Finance community in Singapore and beyond.
CompareAsiaGroup and Seedly share a common mission to help people build healthier financial lives.
This acquisition accelerates CompareAsiaGroup’s ability to help people build the right portfolio of financial products which is a core part of our shared mission.
Seedly brings access to a strong personal finance brand with an actively engaged community. With over 1.1 Million unique monthly visitors, Seedly is a key platform for Singaporeans to access financial knowledge and join a flourishing personal finance community.
“We are incredibly excited about the road ahead for our users, our people, our partners and our company”, concluded Sam Allen, CEO of CompareAsiaGroup. “We are extremely proud of our teams delivering such strong results in the first half of 2020, especially under these challenging circumstances. And now with the Seedly acquisition and the launch of our new eKos_connect products, we are even more optimistic about the future and confident that we will continue expanding our footprint and impact in the region.”
COVID-19 has changed the financial landscape towards a more online, self-serve approach. Savvy customers are opting to do their own research to figure out which products are best for them, via content, comparison, discussion and reviews. Seedly and CompareAsiaGroup’s digital platforms empower people to access financial information on demand.
Leveraging technology, partnerships and community to simplify Personal Finance decisions
CompareAsiaGroup is accelerating the financial ecosystem in Asia through innovative technology solutions and has developed strong relationships with over 200 financial institutions.
“We are immensely grateful for the support from our community members who have been a big part of our story thus far. They have provided us a platform to give feedback to various brands and products across a variety of verticals from savings, insurance, investments and cards. We believe that joining CompareAsiaGroup presents a great opportunity to scale that up with stronger emphasis on deepening that community spirit with more features focused around user engagement,” shared Kenneth Lou, Co-founder, CEO of Seedly.
Seedly has developed deep rooted communities where people can improve their financial literacy and financial health. Jointly, both companies expand the financial ecosystem in Asia by making complex online financial systems simple.
Founded in 2016, Seedly helps users make smarter financial decisions with over 1.1 million monthly users who visit the community monthly to engage and learn. The millennial-centric community features such as crowdsourced QnA and Reviews platform, has seen over 250% year-on-year growth in users in the past two years.
Seedly also features a useful budgeting app and tool which allows more than 130,000 users to sync up their financial accounts and better manage their cash-flow.
CompareAsiaGroup is Asia’s leading techfin company, reaching over 10 million consumers each month and working with more than 200 financial institutions across six markets including Hong Kong, Malaysia, the Philippines, Singapore, Taiwan, and Thailand.
Founded in 2014 and dual-headquartered in Hong Kong and Singapore, CompareAsiaGroup is a portfolio of digital financial services companies that empowers people to build healthier financial lives through easy online comparison and education tools (MoneyHero, CompareHero, MoneyMax, SingSaver, Money101 and MoneyGuru) and accelerates the digitisation of the financial industry (eKos_connect). eKos_connect was launched in 2019 and is a SaaS provider connecting financial institutions with their digital partners and affiliates, supporting over 200 integrations through its partnership network.
CompareAsiaGroup has raised more than US$110 million from investors including Experian, IFC, a member of the World Bank Group, Pacific Century Group, Goldman Sachs Investment Partners VC and Growth Equity, ACE & Company, Jardines, Alibaba Entrepreneurs Fund, SBI Group, H&Q Utrust, Stem Financial, and Route 66 Ventures