AVCJ

Singapore's VC-backed MoneySmart gets $10m Series B

  • LinkedIn  
  • Google plus  
  • Save this article  

MoneySmart, a personal finance portal backed by Golden Gate Ventures, has received a $10 million Series B funding round led by Japanese shopping price comparison site operator Kakaku.

Golden Gate and SPH Media Fund also participated in the investment. The capital is expected to underpin an operational expansion to leverage increasing internet penetration in Southeast Asia.

"Moneysmart has been a consistent force in the financial technology industry over the last years," Michael Lints, a partner at Golden Gate, said. "They have a clear strategy and see room to grow further in the region. The investment from Kakaku is proof that [SmartMoney CEO Vinod Nair] and his team built a solid brand." 

Founded in 2009, MoneySmart helps customers simplify personal finances by comparing loans, insurance and credit cards, and making recommendations. The service aims to translate technical jargon into an easy-to-understand format while offering reviews and commentary on financial products in an entertaining style.

The company received a S$2.8 million ($2 million) round from Golden Gate, SPH Media Fund, Convergence Ventures and OPT SEA in 2015. This followed a $480,000 investment by Golden Gate and Singapore’s National Research Foundation in 2012.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Financials

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs