Asian financial supermarket GoBear has received US$80 million in funding from Dutch venture capital fund Walvis Participaties and financial services provider Aegon NV.

The money would be used to develop products and technology, expand its partner network and fill key positions, it said.

Adrian Chng, CEO of GoBear, said: “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 eco-system 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."

GoBear claims to have served more than 40 million users in Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam.

Its partners are leading financial institutions, banks and insurance providers.

In Viet Nam, it has partnerships with 14 financial institutions including Standard Chartered, Citibank, FE Credit, Easy Credit, Manulife, and Dai-ichi Life.

Bao Nguyen, its Vietnam country director, said: “GoBear’s purpose is to improve your financial health. We enable consumers to make informed choices across 10 personal financial product areas, including insurance, personal loans and credit cards, in a simple and transparent way.

“Our product, technology and financial partners allow users to search for financial products, find the best match for their personal objectives, and make seamless transactions on the GoBear platform.”

The company would continue to expand its product offerings to best suit Vietnamese consumers’ needs, he added. — VNS