FinTech company GoBear has raised fresh funds of $17m from Dutch venture capital firm Walvis Participaties, as well as Aegon, a provider of life insurance, pensions and asset management.
This marks the company’s fifth fundraise to date, bringing the total amount it has clinched so far to $97m.
With the latest fund injection, GoBear says that it will expand three growth pillars, namely, a digital insurance brokerage, an online financial supermarket, and digital lending, enabling the company to offer a “full-fledged financial services platform”.
Launched in Singapore in 2015, the fintech firm now operates in six other markets in the region including Hong Kong, Indonesia, Thailand, and Vietnam. Its online platform offers more than 2,000 personal financial products encompassing insurance, banking, and lending services, and has served more than 55m users. There is an estimated base of 300m in the region who remain underserved by existing market offerings.