MoneyHero Group Announces Non-Binding Offer to Acquire MoneySmart

MoneyHero Limited, a market-leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, announced that it has made a non-binding offer to acquire 100% of the shares of MoneySmart, the second largest player in the market. This strategic move aims to consolidate MoneyHero’s leading position and unlock significant synergies in Asia’s rapidly evolving personal finance and insurance landscape.

Under the terms of the offer, MoneyHero has valued MoneySmart at US$8.0 million with potential valuation upside. The US$8.0 million consideration is to be paid in new MoneyHero shares whereas the potential additional valuation upside will be paid in cash contingent on the results of a thorough due diligence process. While MoneyHero’s intent is to acquire 100% of MoneySmart, the Company is also exploring the purchase of any number of shares from individual shareholders.

The consideration of US$8.0 million in MNY shares and an additional cash amount (to be defined based on due diligence results) references MoneySmart’s recent capital reduction reflected in recent filings made with the Accounting and Corporate Regulatory Authority of Singapore. MoneyHero’s offer reflects a premium for MoneySmart’s business, as well as confidence in the value that MoneySmart would bring to the combined entity.

“Our offer to MoneySmart reflects the strategic value of combining our two companies,” said Rohith Murthy, CEO of MoneyHero. “This acquisition will further strengthen our leadership in Greater Southeast Asia, delivering enhanced products, services, and technological innovation. Given MoneySmart’s recent share buyback, we believe we’ve made a fair and compelling offer that benefits both sides. Most importantly, we believe the synergies from this merger will drive significant value for our shareholders and customers.”

For more information about MoneyHero, including information for investors and learning about career opportunities, please visit www.MoneyHeroGroup.com.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!