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Goldman Sachs invests in Austrian startup

The Austrian startup "CompareAsiaGroup" attracted USD 40 million in investments from Goldman Sachs Investment Partners. One and a half years ago, CompareAsiaGroup founder Gerhard Eder successfully developed a comparison platform on the Internet for financial products when he was in Hong Kong. Together with a German and Danish investor, Gerald Eder set up the CompareAsiaGroup and launched platforms such as MoneyHero (Hong Kong), MoneyMax (Philippines), CompareHero (Malaysia) and Singsaver (Singapore). On these portals consumers can compare banks and insurance products of credit cards on the Internet and thus save time and money.

In the meantime, CompareAsiaGroup is the largest comparison platform for financial services in Asia, operating on eight markets covering more than half a billion people.  

“We have now secured an additional USD 40 million“, Eder said. Prominent institutions such as Goldman Sachs and the private equity company of the Swiss private bank Bank Syz took part in this financing round. “There were also several investors from Silicon Valley“, Eder added.  Zynga founder Marc Pincus was involved, as was Owen Van Natta, the former COO of Facebook and ex-CEO of MySpace.

“The Asian market presents a unique opportunity for the company. The financial industry is growing rapidly, but has remained relatively untouched by digitalization”, said Kenneth Eberts, Co-Head of Goldman Sachs Investment Partners. As the lead investor in this financing round, Goldman Sachs Investment Partners will join the Board of Directors of CompareAsiaGroup.

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