HaloMoney’s Parent Company Secured $40 Million from a Group of Investors

Financial product comparison platform HaloMoney is predicted to keep growing along with the increase of technology adoption by the people. It’s supported by the USD $40 million funding it sealed from Goldman Sachs, Jardine Pacific, ACE & Company, Route 66 Ventures, and Nova Founders Capital for CompareAsia Group, HaloMoney’s parent company. This series A funding involves Zynga’s Founder Mark Pincus, ex-Facebook and Mayspace’s COO Owen Van Natta, and some others.

According to the press release we received (22/4), CompareAsia Group described the data from Deloitte in regard to digital financial services that may offer better alternatives to 110 million Indonesian people who has yet had any proper access towards financial products. The high penetration of internet among Indonesians is regarded as the trigger which may turn their habit in searching financial information online.

This investment helps CompareAsia Group to have a stronger grip in the digital financial industry as a platform that serves various financial products including credit cards, loan, health insurance and car insurance. For the Indonesian market, HaloMoney represents CompareAsia Group, which has also been available inm numerous other countries in Asia.

“The condition makes us realize that HaloMoney will keep growing to meet the demand.  HaloMoney is here to provide easy-to-understand services which can be accessed from anywhere and at anytime to assist Indonesians finding financial products that fit their needs,” said HaloMoney Indonesia’s Managing Director Simon Costello.

In order to reach broader scale at minimum cost, HaloMoney has planned an expansion that involves partnership with more than 60 banks, including HSBC, DBS, BNI, and Citibank.