Goldman Sachs-backed CompareAsiaGroup gets new CEO ahead of its second round of funding
CompareAsiaGroup, a consumer finance startup backed by Goldman Sachs, has appointed Sam Allen as its new chief executive officer. Allen previously worked at KKR, where he was a director on the private equity investment firm’s portfolio operations team. The company runs sites in eight Asian countries (Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam) that allow consumers to compare rates and terms on loans, credit cards, insurance plans, and other financial products. It closed a $40 million Series A last year led by Goldman Sachs, bringing its total backing so far, including seed funding, to $45 million. CompareAsiaGroup monetizes by working with financial service providers and charging them for each user who signs up for its services through its sites.