IFC Leads $50M Round In Hong Kong Fintech Firm CompareAsiaGroup

International Finance Corp. (IFC), a member of the World Bank Group, has led a US$50 million series B round in CompareAsiaGroup, a Hong kong-based online comparison platform for financial, telco and utility products across Asia.

Alibaba Entrepreneurs Fund, an investment unit of Alibaba Group Holding Ltd. focused on Hong Kong and Taiwan, Japanese financial services company SBI Group, private equity firm H&Q Asia Pacific, as well as existing investors including U.S.-based Lisa and Douglas Goldman Fund, Hong Kong and London-based venture capital firm Nova Founders Capital, ACE & Company SA and Route 66 Ventures also participated in the round.

"At IFC, reaching the unbanked and under-banked is a priority and we believe the best way to do this is through technology," said Vivek Pathak, IFC’s Regional Director for East Asia and the Pac...

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