The collaboration will also enable to propel a range of new open banking services in Hong Kong. Experian’s investment in CompareAsiaGroup is the latest in a series of Asia Pacific investments made by the company in the past 18 months. It follows recent Experian’s investment in Grab’s ongoing Series H funding round, a move to improve mobility-enabled solutions and financial services on the ride-hailing app.
Founded in 2014, CompareAsiaGroup claims to have 60 million users across six markets, including Hong Kong, Singapore, Taiwan, and Thailand. The company has currently raised more than USD 90 million since its foundation. Besides the fresh funding, the investment will allow CompareAsiaGroup to tap into Experian’s technology to deepen its focus on delivering consumer solutions. CompareAsiaGroup will also benefit from Experian’s cloud-native platform Experian One, a tool for customers acquisition and credit decisions, according to an official statement.
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