Led · Equity · Dec 2022

Hyphen Group operates an online comparison platform for banking and insurance products focused on helping consumers across Asia make informed personal‑finance decisions. The company reports more than 8 million monthly users and partnerships with over 270 financial service providers. Founded in 2014 and rebranded from CompareAsia Group last year, Hyphen serves customers from Hong Kong and Singapore. Leadership is in transition after CEO Sam Allen resigned but will remain as a shareholder and advisor; interim CEOs Derek Fong and Kenneth Chan will work with president Prashant Aggarwal and CFO/COO Shaun Kraft. The firm endured several rounds of layoffs in 2022 after anticipated investment deals failed to close, and was reported to have explored a SPAC that could have implied a roughly $1 billion valuation. The recent capital raise and leadership changes appear aimed at stabilizing operations and supporting the comparison‑platform business across its markets. CompareAsiaGroup is a Hong Kong-based financial services marketplace that lets consumers comparison shop for bank accounts, personal loans, insurance, credit cards and other financial products. The platform claims 60 million users across Asian markets including Hong Kong, Singapore, Taiwan and Thailand. The company recently opened an R&D center in Singapore to develop additional tech tools. Its partnership with Experian will give it access to Experian One, a cloud-based credit scoring and risk assessment platform, and is intended to enable the launch of new open banking services in Hong Kong that can be adapted for other markets. CompareAsiaGroup has raised more than $90 million to date since its founding in 2014 and recently secured a $20 million B1 round led by Experian. The funding and access to Experian’s technology are expected to support further product development and regional fintech service expansion. CompareAsiaGroup runs localized online marketplaces that let consumers search and compare credit cards, loans and insurance across seven Asian markets using machine learning and AI to match products to users' needs and risk profiles. The company operates under different local brands (MoneyHero, HaloMoney, CompareHero, MoneyMax, SingSaver, Money101 and MoneyGuru) and claims more than 28 million people used its sites last year. It monetizes via revenue-sharing with about 100 partner brands and financial institutions, including American Express, HSBC, Standard Chartered and Citibank. CompareAsiaGroup assesses risk profiles using multiple data sources in each country (beyond credit bureaus) to adapt to low credit-card penetration in some markets. Launched in 2014, the company plans to use new funding to improve user experience across its sites and grow its team. Its product positioning emphasizes impartial, transparent recommendations to build consumer trust and retention. CompareAsiaGroup operates online platforms that let users compare banking, insurance and telecommunications products across markets in Asia. Headquartered in Hong Kong, it currently serves eight markets including Singapore, Taiwan, the Philippines, Indonesia and Malaysia and plans to launch a Vietnamese platform soon. The company reports it serves over 21 million users annually and says it aims to raise financial literacy, provide more choice for customers, and be a long-term partner to banks, insurers, telcos and utilities in Asia. Last year CompareAsiaGroup raised US$40 million in a Series A led by Goldman Sachs with participation from Mark Pincus, Route 66 Ventures and Nova Founders Capital. It is now the subject of a proposed US$25 million investment from the International Finance Corporation (IFC), the World Bank Group’s private equity arm. IFC says the investment aligns with its goals to address access gaps to financial services via fintech, improve financial literacy, and increase competitive pressure to lower costs in the market. CompareAsiaGroup operates comparison websites in eight Asian countries that let consumers compare credit cards, loans, insurance, and other financial products for free. The platform displays institutions that fit users’ requirements and partners with brands, charging partners when users sign up through its sites. It currently works with about 60 brands, including HSBC, Citibank, and Standard Chartered, and helps financial institutions reach customers without opening branches or hiring sales agents. The company plans to add more product categories, improve its platform technology, and expand within its existing markets before launching in new countries. Management says the firm will use its flexible IT infrastructure to enter additional markets in the future. Total funding to date supports these product and geographic expansion plans.

Led · Series D · Oct 2021

WM Motor designs and manufactures mainstream smart electric vehicles and operates two fully self-owned, highly automated factories to integrate R&D and production. The company has delivered over 80,000 vehicles to date and reported total vehicle deliveries of 34,068 units from January to October 2021. Its product line includes the W6—claimed as the world’s first mass-produced vehicle with L4 autonomous driving and Automated Valet Parking—and the M7 sedan, with mass production and delivery of the M7 expected to commence in 2022. WM Motor plans to use new funding to accelerate development of autonomous driving and other smart technologies, expand sales and service channels nationwide, and ramp production and deliveries. Management said the business showed resilience amid the global chip shortage and expects to boost sales next year with investor and partner support. WM Motor is a dominant player in China’s mainstream electric vehicle market, producing smart EVs that emphasize advanced smart cockpits and an integrated electric powertrain system. Its lineup includes the W6 SUV, launched in April 2021, which the company says is the first smart BEV equipped with L4 Automated Valet Parking (AVP); a new sedan was scheduled for launch in mid-October 2021. WM Motor operates two fully self-owned, highly automated factories and integrates in-house R&D and manufacturing to support vehicle safety and reliability. The company has delivered over 70,000 vehicles cumulatively and sold 29,043 vehicles from January to September 2021, exceeding its full-year 2020 sales. Despite industry chip shortages, WM Motor secured its supply chain, continued deliveries, and reported a positive cash gross profit. The company is focused on expanding sales and service channels and further developing autonomous driving and other smart technologies to enhance the user experience. WM Motor is a Shanghai-based electric-vehicle startup founded in 2015 that builds and sells the EX5 electric SUV. The company has delivered more than 41,000 EX5 units to date. WM Motor secured an 11.5 billion yuan (≈$1.8 billion) line of credit from local banks to support its near-term growth. The funding includes a first tranche of 3.5 billion yuan and comes from 11 lenders. WM Motor said it will use the funds to invest in product innovation, technology development, intelligent manufacturing, channel expansion and digital marketing. The company is moving closer to a planned public listing on Shanghai’s Star board. WM Motor is a Shanghai-based company that develops electric vehicles. On Tuesday it announced the completion of a Series D financing round. The round totalled ¥10 billion (about $1.47 billion). The deal is described as the largest financing to date for a Chinese electric-vehicles developer. The article does not provide details on investors, operating metrics, or future plans. WM Motor is a Chinese electric-vehicle maker that began selling the EX5 electric SUV in China in spring 2018. The EX5 is offered with three battery variants for ranges of about 300, 400, or 460 kilometres and is powered by a motor rated at 160 kW and 315 Nm torque. The company says it plans to launch about one electric vehicle per year under the Weltmeister/WeiMa label and will upgrade its technology, products, new retail modes and intelligent manufacturing in 2019. WM Motor has a cooperation with BorgWarner providing electric drive technologies including the eDM module that drives the EX5. Founder, chairman and CEO Freeman Shen is cited discussing the firm’s product and technology plans. Financially, the company has raised capital for manufacture and R&D and is directing fresh funds primarily into research and development and intelligent-vehicle efforts with partners.