MoneyMax.ph gets access to $50 M fund

has received an access from a pooled $50 million in Series B funding solidifying its position as the Philippines’ leading personal finance management platform.

Investors in the pooled funds include World Bank’s International Finance Corp. (IFC), Alibaba Entrepreneurs Fund, SBI Group, H&Q Utrust, Goldman Sachs Investment Partners VC and Growth Equity, Nova Founders Capital, ACE & Company and Route 66 Ventures.

The funding would be used to continue to improve the user experience by making the process of finding, comparing, getting and managing banking and insurance products significantly easier.

As part of this, MoneyMax.ph would further develop its proprietary technology and continue to expand its team with exceptional talent to support its ambitious growth plans.

“We look forward to helping more Filipinos as we continue to deliver on our mission of empowering consumers to make better financial decisions. The Philippines has tremendous growth opportunities and this fantastic support from both new and existing investors will help us make a positive difference in the lives of more consumers,” MoneyMax.ph managing director Moritz Gastl said.

“At IFC, reaching the unbanked and under-banked is a priority and we believe the best way to do this is through technology,” IFC regional director for East Asia and the Pacific Vivek Pathak said.

Founded in 2014, MoneyMax.ph has been focused on providing free financial advice to the growing internet population and helping consumers choose the right financial products.

It works with over 50 market-leading brands in the Philippines including Citibank, HSBC, Security Bank, AXA, and Standard Insurance.