Ex-Capstone executive joins PE-backed CompareAsiaGroup

Allen spent nearly nine years at KKR, leading the Southeast Asia coverage for the private equity firm's Capstone operations division. In this capacity he served as COO of Goodpack for an eight-month period following KKR's acquisition of the Singapore-based intermediate bulk container manufacturer in 2014.

CompareAsiaGroup was established the same year by Gerald Eder, who previously worked on e-commerce for Rocket Internet in Asia. He was supported by Nova Founders Capital, an early-stage investment firm set up by three other Rocket Internet alumni. CompareAsiaGroup raised an initial $5 million in seed funding followed by the Goldman-led round. The investor group also featured Nova, Jardine Pacific, ACE & Company, and Route 66 Ventures, among others.

The site offers information on more than 1,530 financial products - deriving revenue from over 60 financial services providers that see CompareAsiaGroup as an alternative marketing tool - and is now present in eight Asian markets, from Taiwan down to Indonesia.

Allen told TechCrunch that the company is planning to raise another round of funding that will go towards improving technology and broadening product comparison coverage. He added that CompareAsiaGroup has more than 20 million users across the region.

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