Financial Supermarket GoBear Announces US$80 Million in Funding

Financial Supermarket GoBear Announces US$80 Million in Funding
● Funding to rapidly grow its product, technology and people capabilities
● Seeking to make investments into Asia-based technology innovators
● Expanding the platform to search, match and transact consumer financial services
Hong Kong, 8 May 2019 – Asian financial supermarket GoBear has announced US$80 million in funding to date. GoBear will use the funds to drive growth through product and technology enhancements, expand its partner network, and fill key roles. Improvements to the platform’s search and match functionality will also include two strategic approaches: partnerships with, and investments into other technology companies, to acquire access to additional key technology.
This funding was furnished by Walvis Participaties, a Dutch venture capital fund, and Aegon N.V, a leading financial services provider.
GoBear is a financial supermarket whose purpose is to improve Asia’s financial health by making financial literacy, financial inclusion, and financial security attainable for everyone. GoBear has served more than 40 million users across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. GoBear’s partners are leading financial institutions, banks and insurance providers, including Allianz Worldwide Partners, Citibank, FWD Insurance and Standard Chartered Bank.
Adrian Chng, CEO of GoBear said “Our latest round of funding will be invested in our priority areas of product, technology, senior management and technical talent. We are also very interested in partnering with and/or investing in other technology companies who have developed exciting new technologies that will enhance our ecosystem and our ability to improve people’s financial health. Specific areas include customer onboarding and fulfilment solutions, personal financial management, alternative credit scoring, financial education, and investment platforms”.
Opportunities in the region are being driven by several large, interconnected developments: world-beating economic growth, rapid urbanisation, a fast-growing middle class and mobile everywhere; the region’s digital economy alone is projected to reach S$270 billion by 2025 .
At the same time, many consumer products and services remain ill-suited to this mobile generation, and cash transactions are the norm. The prevalence of a cash-based economy limits consumers’ financial access, because without a personal financial profile financial institutions cannot assess and price customers’ risk and evaluate product suitability.
“GoBear’s purpose is to improve your financial health. We enable consumers to make informed choices across 14 personal financial product areas, including travel insurance, health insurance, personal loans, credit cards, and fixed deposits in a simple and transparent way. Our product, technology and financial partners allow users to search for financial products and find the best match for their personal objectives,” said Adrian.
GoBear Hong Kong carries financial products from over 29 key local and regional financial institutions. With an aging population and rising medical costs, demand for protection and savings will continue to grow, with that increases the need for platforms like GoBear to help consumers understand the options available to them.
The Hong Kong Monetary Authority’s recent formulation of the Open API Framework for Hong Kong’s banking sectors, as well as the granting of virtual bank and insurer licenses to facilitate the provision of low-cost financial products in Hong Kong further underpin GoBear Hong Kong’s growth prospects in the market.
GoBear is excited by the opportunity to create the infrastructure and ecosystem to improve financial health for hundreds of millions of customers across Asia. It will utilise its product, technology and data capabilities as key enablers in assessing and pricing risk, which will help partners better understand consumer preferences based on digital personas and journeys. It is also on these journeys that consumers undergo a more efficient and superior digital experience whilst being matched to the most relevant products for their needs.
About GoBear
GoBear is Asia’s leading financial supermarket whose purpose is to improve your financial health. GoBear empowers consumers with the know-how, tools, and financial products to meet their needs. We believe financial health leads to secure, stable, and sustainable communities across Asia, which is why we make it our mission to improve your financial health by making financial literacy, financial inclusion, and financial security attainable for everyone.
Our financial supermarket is rapidly growing its capabilities, product offerings, and customer base. We’re a fintech leader that’s bringing innovative solutions to address important local market challenges. Our data and insights mean we can build better products, better assess and price risk, work with partners to improve access to financial products, and identify consumer knowledge gaps.
Having commenced in Singapore since early 2015, we’re now in 7 countries: Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. To date, we have served over 40 million users searching for more than 1,800 personal finance products.


Share on facebook
Share on twitter
Share on linkedin
Share on email


Amazon Launches Upgraded AI Enhanced Fire TV Sticks

Amazon Launches Upgraded AI Enhanced Fire TV Sticks

Amazon has rolled out a series of updates to its Fire TV offerings. The new features include an improved conversational voice search powered by generative AI and Fire TV Ambient Experience advancements. Among the latest hardware releases are the Fire TV Stick 4K Max and the Fire TV Stick 4K, incorporating the enhanced Fire TV Ambient Experience.

Interactive Learning with Augmented Reality

Interactive Learning with Augmented Reality: Applications, Benefits and Challenges

Ever wondered what it would be like if your textbooks could talk, if the illustrations in your lessons could come to life, or if you could step into history rather than just read about it? Welcome to the world of augmented reality (AR) in education! Like a magic wand, AR can turn the abstract into tangible and the mundane into extraordinary, unfolding boundless educational possibilities.

How AI Threatens Your Password Security

Unlocking the Dangers: How AI Threatens Your Password Security

You may have heard of artificial intelligence (AI) technology’s many cool capabilities, such as assisting doctors or predicting the weather. However, there is something not-so-cool we need to discuss: AI could make our passwords less safe, which is concerning.

What Does Gen-Z Want in a Career

What Does Gen-Z Want in a Career?

Most managers feel that Gen-Z is “difficult to work with”, entitled and easily offended. The prevalent notion is that this generation is prone to distraction, lacks tech skills and is deficient in productivity and motivation. They want to butt heads, have their say and not listen. Harsh, yes. These studies perhaps ignore that most of the Gen-Z workforce graduated and entered the workforce during COVID-19.


Beyond Pink and Blue: The Movement Towards Gender-Inclusive Toys

Before gifting that pink kitchen set for a girl or the transformer for a boy, pause for a moment. Historically, the toy industry has thrived on perpetuating gender stereotypes. As the French essayist and critic, Roland Barthes, expressed, toys are essentially a “microcosm of the adult world”, reflecting societal views.