Led · Equity · May 2020

GoBear began in 2015 as a metasearch engine and has transitioned into a consumer financial services platform. Its core offerings are an online financial supermarket (evolved from its aggregator/comparison service), an online insurance brokerage, and a digital lending business, which it expanded by acquiring consumer lending platform AsiaKredit. The platform is available in seven Asian markets: Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, and it works with over 100 financial partners. GoBear says its platform has been used by over 55 million people to search for more than 2,000 personal financial products. Financially, the company has been gross margin positive since the end of 2019; its online insurance brokerage has grown average order value by 52% over the last three months, and its loan products have seen 50% year-over-year growth. The company recently added three senior executives — Valeriy Gasratov (CTO), Jinnee Lim (Chief Strategy Officer) and Mike Singh (Chief Lending Officer) — and plans to use new funding to expand its consumer financial services offerings and partnerships with financial institutions. GoBear is a Singapore-based financial supermarket that provides consumers with know‑how, tools and comparison access to more than 1,800 personal finance products. The platform partners with banks, insurance providers and other financial institutions, including Allianz Worldwide Partners, Citibank, FWD Insurance and Standard Chartered Bank. Led by CEO Adrian Chng, GoBear has served more than 40 million users across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The company plans to use newly raised funds to drive growth through product and technology enhancements, expand its partner network and fill key roles. GoBear raised US$80m in funding from strategic backers. The capital is intended to accelerate expansion and platform development across its markets.