MoneyHero Group Announces Strategic Partnership With Jirnexu Pte. Ltd, To Enhance Its Long-Term Strategy For The Malaysia Market
CompareHero, the Company's B2C brand and platform operating exclusively in Malaysia, will be acquired by Jirnexu Sdn. Bhd., operator of RinggitPlus, the market's largest operating player
MoneyHero will retain an equity stake in Jirnexu Pte. Ltd., the parent company of Jirnexu Sdn. Bhd, to enhance its long-term strategy for the Malaysia market
SINGAPORE, June 28, 2024 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ:MNY) ("MoneyHero'' or the "Company"), the leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced the signing of a strategic transaction with Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. Through this transaction, MoneyHero's B2C brand ‘CompareHero', operating exclusively in Malaysia, its website, domain names, select user data, and IP rights will be acquired by Jirnexu Sdn. Bhd. When the transaction is completed, the CompareHero brand will continue in operation under the world-class systems of Jirnexu Sdn. Bhd. moving forward. In connection with this transaction, MoneyHero will retain an equity position in Jirnexu Pte. Ltd. Terms of the deal, expected to close in early July 2024, are confidential.