Connect with us


PolicyPal expands via ValueChampion acquisition

The Singapore insurtech is adding financial planning tools to its consumer business across Asia.



Val Yap, PolicyPal

PolicyPal, a Singapore insurtech platform that is part of AMTD Digital, says it is acquiring ValueChampion, an Asia-focused fintech company based in the United States.

ValueChampion provides resources and advice for people looking to obtain loans, credit cards, insurance, or general financial advice.  As of December 31, 2020, it had over 400,000 users in four markets: Singapore, Hong Kong, Korea and India.

The company was founded by New York-based Duckju (D.J.) Kang, a former hedge-fund manager, who assembled a team of financial analysts to provide guidance for consumers to improve how they make financial decisions.

PolicyPal operates a proprietary policy management platform that helps over 100,000 users track their insurance policies on a single app.

PolicyPal subsidiary Baoxianbaobao (also known as ‘PolicyPalFA’) is an insurance broker and exempt financial adviser licensed by the Monetary Authority of Singapore.

Acquiring ValueChampion adds tailored content and tools to PolicyPal’s financial planning capabilities, to help users plan their finances across different stages of life, the company says. “This acquisition will…empower more people to take charge of their financial decisions, and narrow the gap in financial literacy in Asia,” said Val Yap, PolicyPal’s founder and CEO.

ValueChampion’s four Asia-based local websites will retain their individual names and operations as subsidiaries of PolicyPal.

She says the pandemic has created a surge in demand for financial guidance and products in areas like financial planning, refinancing, investing and asset-allocation decisions. 

“Expanding across Asia is an important step towards our vision of a world where every consumer makes financial decisions with confidence,” Yap said.

Mark Lo, CEO of AMTD Digital in Hong Kong, said, “Combining the offering and capability of the two startups will consummate PolicyPal’s advisory capability and accelerate its overseas expansion.”

DigFin direct!

Register to receive DigFin's newsletter

  • Hauptseite
  • Grocery Gourmet Food
  • PolicyPal expands via ValueChampion acquisition