• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Financial comparison “super app” Jeff raises $1.5M seed extension

September 7, 2021 by David Barret Leave a Comment

Financial services, especially those for people who don’t have access to traditional bank accounts or lines of credit, are proliferating in Southeast Asia. Jeff App wants to give consumers a “super app” where they can compare many financial products and apply for them using the startup’s proprietary data-scoring models. For service providers, Jeff serves as a distribution channel, helping them find and retain customers. The startup announced today it has raised a seed extension of $1.5 million, led by J12 Ventures. Other participants included iSeed Ventures and Toy Ventures, and returning investors EstBAN, Startup Wise Guys and other angels.

The funding brings Jeff’s total raised to about $2.5 million. It announced a $1 million seed round back in March. Founder and chief executive officer Tom Niparts told TechCrunch that Jeff had a net profitable second quarter and wasn’t planning on raising again, but investors were interested because of its strong growth since the beginning of the year. The startup claims that since the end of January, its users have tripled to 700,000, who compared a total of four million products over the past six months.

Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia

Founded in 2019, the startup is operational in Vietnam and has applied for a license to launch in Indonesia. It also plans to enter the Philippines in the third quarter. Part of the funding will be used to increase Jeff’s team from about 15 people now to more than 40 employees for its offices in Latvia and Southeast Asia.

Before launching Jeff, Niparts was CEO of Spain for Digital Finance International, a fintech company that is part of the Finstar Financial Group. During that time, Niparts saw that in many Southeast Asian countries, people struggled to get loans not because of their credit history or income, but because they simply didn’t have enough personal financial data. Jeff was created to develop alternative data scoring models for financial services.

Niparts said Jeff’s goal is to become a main distribution channel for financial services in Southeast Asia and the top place for consumers to compare products and apply for them.

One of the reasons Jeff enjoyed strong growth during the first half of this year was by honing its user acquisition strategy in Vietnam. At first, it relied on global channels for user acquisition, like Google and Facebook ads, but now its top acquisition channel is through partnering with local affiliates, including bloggers and social media influencers who have grown considerable followings with educational content about finances.

“What we were surprised about is that in Europe, for instance, TikTok would never work for financial services, but in Vietnam we saw that it is a pretty amazing channel,” said Niparts.

While one of Jeff’s main features is loan comparison, the company has started expanding its offerings because most people only borrow money once in a while.

To create incentives to return to Jeff, instead of offloading the app once they secure a loan, Jeff is also offering coupons, like Shopee discounts and planning to launch telecom top-ups with cashback offers and a user referral functionality. It is also working on neobank and mobile wallet comparisons, payment functionalities, installment financing, services for micro-to small-sized merchants and a data science model to increase conversions for providers.

The hottest fintech market you aren’t paying attention to

Source Link Financial comparison “super app” Jeff raises $1.5M seed extension

David Barret
David Barret

Related posts:

  1. China slams ‘incorrect’ politics in show business, high actor pay
  2. Guns, drugs, jobs. In these Venezuelan towns, Colombian rebels call the shots
  3. Motor racing-Love it or hate it, Formula One returns to Dutch shores
  4. Mexican president’s legal counsel steps down, ally to step in

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Seals Playing Video Games For Science? We’ve Got The Footage To Prove It
  • Are There Colors That Only Exist In Our Brains? Find Out More In Issue 35 Of CURIOUS – Out Now
  • If They Take Fluoride Out Of The Water, What Could Happen To Americans’ Teeth?
  • Paraglider Accidentally Flies Into The “Death Zone” 8,500 Meters Up – And Survives
  • World’s Oldest Fingerprint, Bioacoustics Could Give Us “A Peek Into The Language Of Wolves”, And Much More This Week
  • Please Stop Jamming Coins Into The Rocky Cracks Of Legendary Giant’s Causeway
  • We’re A Step Closer To Knowing Who Made The Earliest Known Stone Tools
  • These Little Birds Are All But Extinct – But There Is Still Time To Save Them
  • The Three Types Of Female Orgasm
  • Elon Musk Has Announced His Bombastic Plan To Get Humans To Mars
  • China Unveils World’s Largest Offshore Wind Turbine With Hub Height Of 185 Meters
  • Oldest Fingerprint, AI Decoding Wolf Language, And Injecting Life On Other Worlds?
  • “There Are Glimmers Of Hope”: Search For One Of The World’s Most Endangered Pigeons Just Scored A Big Win
  • Earth Has A 1-In-100,000 Chance Of Being Ejected From The Solar System Due To A Passing Star
  • “Necrobotics” Turns Dead Spider Corpses Into Biohybrid Robots
  • Why Even Traveling Close To The Speed Of Light Is So Hard
  • Peer Into The Universe’s Distant Past Thanks To JWST’s Longest-Exposure Photo Yet
  • First Evidence For Chubby Cheeks In Dinosaurs Challenges Our Understanding Of How They Chewed
  • The 2021 “Heat Dome” Killed Her Mother. Now, She’s Suing The Oil Companies Responsible
  • Two Of The Most Destructive Termites Got It On, Sparking Hybrid Threat In Florida
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version