Finder, a global comparison platform founded in 2006 in Sydney, Australia, has acquired the GoBear brand as it accelerates its global expansion.
Finder aims to grow its presence as a key financial comparison platform in Southeast Asia with the acquisition of the GoBear brand, it said in an announcement on Thursday.
Singapore-based GoBear, which was founded in 2015, operated a platform for insurance, banking, and lending products in seven markets in Southeast Asia, but shut down at the start of 2021, citing a challenging operating environment and its inability to raise new funds from existing or new investors.
We felt there was a great alignment between the two brands and, after three years with a light presence in the region, we couldn’t pass up the opportunity to step in and purchase the like-minded brand, the announcement said.
Finder noted the region’s large unbanked market, which includes some 438 million consumers, and said there is a significant opportunity for growth, as digital financial services are set to grow to a $60 billion business by 2025.
As part of the deal, GoBear’s website content will be integrated into local Finder sites across the seven markets: Singapore, Hong Kong, Vietnam, Thailand, Philippines, Malaysia, and Indonesia. The GoBear brand will continue to operate via social media and email channels