Thai financial startup Masii raises US$2.43 million series A round

Mon Feb 12, 2018 - 6:58am UTC
Masii Series A

Masii

12/2/2018 – Masii, a dot-com startup that provides an online comparison platform for financial products has today completed its series A round raising 77 million baht, that translates to about US$2.43 million.

According to Masii’s co-founder and CEO Max Meyer, this funding round is led by Thai conglomerate B. Grimm, alongside the participation of new investor European Venture Capital fund.

Meyer did not disclose the company’s valuation, but he said that the proceedings will be used to accelerate its growth and scale up new verticals.

“We want to grow more as a trusted customer advisor with greater focus on personalized customer service,” said Meyer. “Apart from expanding products and services, we will continue growing the team. Last year, our headcounts increased from 20 to 36.”

Founded by Meyer and Matthias Jurgens, Masii enables its users to compare financial products such as insurance, personal loans, and credit cards via its online platform.

Since January 2017, the platform has grown from 9 000 monthly customer applications to more than 65 000 monthly applications, as well as raising a total credit application of US$134 million.

The platform added five new verticals in 2017 and has already launched two new verticals including mortgage and savings this year.

For its future plans, Masii looks to further develop the advanced credit scoring and lending eligibility models, in addition to tripling its monthly applied loan volume and diversify into home mortgage, refinancing and larger ticket items.

“We’ve really taken the company back to basics,” said Meyer. “How can we reach the most customers possible for the lowest cost, and how can we serve them best?”

“We have a lot of space to improve, and we’re extremely excited about – and take very seriously – our role in helping Thais find the best possible solution for themselves and their families.”

This news is published on Reuters.

Vivian Foo is a reporter who writes about Southeast Asia’s technology and startup space. The entry point which led her to write about the startup ecosystem was her fascination of the dot-com boom. She is taking a deep dive into how the entrepreneurial mindset works and hopes to share the insights, innovation, and stories of the startups with her readers.