Singapore-based fintech startup GoBear has raked in $17m to expand its consumer financial products and services in Asian markets.
The funding comes from existing investors Walvis Participaties and Aegon N.V.
The latest funding round brings the total amount raised by the company to date to $97m.
GoBear operates a single platform for its insurance, banking and lending products.
The company intends to use the fresh capital to develop its offerings across the online financial supermarket, digital insurance brokerage, and digital lending.
GoBear CEO Adrian Chng said: “To truly improve financial health in Asia we must address the approximately 300 million people in our markets that remain underserved by existing banking and insurance services.
“GoBear’s transformation is a response to this by tackling important local barriers to financial literacy and inclusion.”
Founded in 2015, GoBear’s platform offers more than 2000 products through 100 partners across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The funding will allow GoBear to continue to expand its platform in other markets in Asia. The platform has registered over 55 million site visitors so far.
Chng added: “Our latest fundraises is validation that our investors continue to see our potential for growth and that we’re on track to build a robust financial services platform that Asia really needs.
“Built on our strong foundation of alternative data, we can better assess and price risk, co-create better products, and ultimately improve financial inclusion.”