Latest news with #RohithMurthy
Barnama
6 days ago
- Business
- Barnama
MoneyHero Group Reports First Quarter 2025 Results
SINGAPORE, June 16 (Bernama) -- MoneyHero Limited (Nasdaq: MNY ) ('MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the first quarter ended March 31, 2025. Management Commentary: Rohith Murthy, Chief Executive Officer , stated: For full news, click here BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Yahoo
13-06-2025
- Business
- Yahoo
MoneyHero Group Reports First Quarter 2025 Results
Adjusted EBITDA loss improved by 49% YoY to US$(3.3) million Improving revenue mix with high-margin insurance and wealth revenue accounting for 25% of revenue, up 11 pp YoY Cost of revenue fell by 55% YoY and accounted for 44% of revenue, down 20 pp SINGAPORE , June 13, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (Nasdaq: MNY) ('MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the first quarter ended March 31, 2025. Management Commentary: Rohith Murthy, Chief Executive Officer, stated: 'We began 2025 with strong momentum, building on the strategic pivot we initiated last year. In Q1, we made significant financial progress — reducing net loss to US$(2.4) million from US$(13.1) million during the same period last year, improving our Adjusted EBITDA loss to US$(3.3) million, and lowering our cost of revenue by 20-points to 44% of total revenue. These improvements reflect our disciplined focus on enhancing revenue quality, operating leverage, and margin expansion. 'Our strategy is delivering. By reallocating resources toward higher-margin verticals such as insurance and wealth, we are steering the business toward sustainable, profitable growth. These verticals now account for 25% of total revenue, an increase of 11-points year-over-year. Notably, our car insurance platform, launched in partnership with bolttech, is outperforming our expectations by driving higher conversion rates and recurring revenue with seamless end-to-end journeys and real-time pricing. 'We have also made substantial operational efficiency gains. Following last year's restructuring to reset our cost base, we are leveraging AI across the organization to maintain a lean cost structure as we scale. From content creation and service automation to engineering workflows, AI is enhancing workforce productivity, reducing inquiry volumes, and improving user experience — all while keeping expenses flat. Consequently, our unit economics continue to improve quarter after quarter. 'Our member base is rapidly expanding, with registered MoneyHero Group Members increasing by 38% year-over-year to over 8 million. Leveraging these insights, we have refined our strategy and optimized our marketing spend to deliver highly personalized offers that boost user engagement – achieving stronger results with marketing costs falling 25% year-over-year. 'We are encouraged to see growing signs of recovery in the Philippines, a key market for us. After a major banking partner exited last year, we recently secured new partnerships with BPI and RCBC, restoring product supply across key verticals. These partnerships significantly strengthen our market position and offerings, and we anticipate a meaningful rebound in our performance during the second half of 2025 as these partnerships scale. 'Looking ahead, our priority throughout the remainder of the first half of 2025 will be to consolidate our recent operational gains. In the second half, we expect to accelerate topline growth by activating our robust pipeline of banking partnerships, strategically scaling our higher-margin insurance business, and launching Credit Hero Club in collaboration with TransUnion. Credit Hero Club will provide consumers with free credit scores, credit monitoring, and personalized financial product recommendations, thereby driving higher user engagement and conversion rates. This strengthens our confidence in accelerating our revenue growth and reaching positive Adjusted EBITDA in the later part of the year. 'With no debt and US$36.6 million in cash, we are well-positioned to invest in high-return growth initiatives and capitalize on opportunities as the regional personal finance comparison sector evolves. Our focus on disciplined execution, quality growth, and prudent capital deployment uniquely position us to lead market consolidation, deliver long-term shareholder value, and scale efficiently in a dynamic environment.' Danny Leung, interim Chief Financial Officer, added: 'Our financial performance during the quarter clearly reflects the progress we are making following our strategic pivot in the second half of 2024, with a strong focus on revenue quality and disciplined operational management. 'While revenue declined 35% year-over-year as part of our strategic focus on improving quality, revenue mix substantially improved with high-margin verticals increasingly accounting for a larger proportion. Personal loans increased from 15% to 17% of total revenue, insurance grew from 8% to 13%, and wealth surged from 6% to 12%, further reducing our reliance on relatively lower-margin credit cards which decreased 13-points to 57%. Cost of revenue also fell by 55% year-over year and accounted for 44% of total revenue, a 20-point decrease. Combined, this significantly improved gross margins and underscores the effectiveness of our strategy to reposition toward higher-quality, sustainable revenue. 'Our operational efficiency initiatives are already proving to be highly effective, with total operating expenses falling by 26% year-over-year across advertising and marketing, technology, employee benefits, and general administrative costs. We are carefully managing costs while strategically investing in growth areas such as customer acquisition, technology re-platforming, and advanced data infrastructure. 'As a direct result of expanding gross margins and reduced operating expenses, net loss narrowed substantially to US$(2.4) million this quarter from US$(13.1) million during the same period last year—a significant improvement of over US$10 million. Adjusted EBITDA loss also improved markedly, narrowing from US$(6.4) million to US$(3.3) million year-over-year, underscoring our clear trajectory toward sustainable profitability. 'Looking ahead, we expect Adjusted EBITDA to improve throughout 2025, supported by steadily expanding margins and sustained operational efficiency. We remain confident in our ability to achieve positive Adjusted EBITDA in the later part of the year. Our strong cash position and disciplined investment strategy will ensure we remain focused on profitable growth and delivering sustained value to our shareholders.' First Quarter 2025 Financial Highlights Revenue decreased by 35% year-over-year to US$14.3 million in the first quarter of 2025, reflecting a strategic shift toward diversifying revenue mix to enhance revenue quality and the high base effect set during the same period last year with significant marketing and customer acquisition spending in the credit card vertical to expand market share. Revenue from insurance products increased by 4% year-over-year to US$1.9 million in the first quarter of 2025, accounting for 13% of total revenue, compared to 8% during the same period last year. Revenue from wealth products increased by 20% year-over-year to US$1.7 million in the first quarter of 2025, accounting for 12% of total revenue, compared to 6% during the same period last year. Cost of revenue decreased by 55% year-over-year to US$6.4 million and accounted for 44% of revenue, a decrease of 20 percentage points from 64% during the same period last year, reflecting improved gross margins through rewards costs optimization. Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$18.3 million in the first quarter of 2025 from US$30.4 million during the same period last year. This reduction was driven by more targeted and cost-efficient marketing campaigns, combined with strategic streamlining of technology costs to simplify workflows, and a comprehensive HR cost restructuring initiative. Net loss for the period narrowed sharply to US$(2.4) million during the first quarter of 2025, compared to US$(13.1) million in the same period last year, supported by lower operating costs as well as lower non-operating expenses including foreign exchange differences and changes in fair value of financial instruments. Adjusted EBITDA loss improved to US$(3.3) million in the first quarter of 2025 from US$(6.4) million in the prior year period. First Quarter 2025 Operational Highlights Monthly Unique Users for the three months ended March 31, 2025, of 5.7 million MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 38% year-over-year to 8.1 million as of March 31, 2025 MoneyHero sourced 399,000 applications and had 155,000 approved applications in the first quarter of 2025 Capital Structure The table below summarizes the capital structure of the Company as of March 31, 2025: Share Class Issued and Outstanding Class A Ordinary 29,949,1931 Class B Ordinary 13,254,838 Preference Shares 2,407,575 Total Issued Shares 45,611,606 Employee Equity Options 618,7172 Issued Class A Ordinary Shares Underlying Employee Equity Options (618,717)3 Total Issued and Issuable Shares4 45,611,606 _____________________________________1 Includes 618,717 shares issued to Computershare Hong Kong Investor Services Limited ('Computershare') which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of March 31, 2025.3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money. Summary of financial / KPI performance For the Three Months Ended March 31, 2025 2024 (US$ in thousands, unless otherwise noted) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Clicks (in thousands)5 2,081 N/A Applications (in thousands)6 399 495 Approved Applications (in thousands)6 155 206 Revenue breakdown For the Three Months Ended March 31, 2025 2024 US$ % US$ % (US$ in thousands, except for percentages) By Geographical Market: Singapore 5,084 35.5 8,944 40.3 Hong Kong 6,396 44.7 7,716 34.8 Taiwan 1,054 7.4 1,402 6.3 Philippines 1,779 12.4 3,979 17.9 Malaysia - - 133 0.6 Total Revenue 14,314 100.0 22,175 100.0 By Source: Online financial comparison platforms 12,638 88.3 18,058 81.4 Creatory 1,676 11.7 4,117 18.6 Total Revenue 14,314 100.0 22,175 100.0 By Vertical: Credit cards 8,173 57.1 15,426 69.6 Personal loans and mortgages 2,495 17.4 3,297 14.9 Wealth 1,663 11.6 1,387 6.3 Insurance 1,892 13.2 1,827 8.2 Other verticals 91 0.6 239 1.1 Total Revenue 14,314 100.0 22,175 100.0 _____________________________________5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology.6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable. Key Metrics For the Three Months Ended March 31, 2025 (in millions, except for percentages) Monthly Unique Users7 Singapore 1.3 22.6 % Hong Kong 1.0 17.3 % Taiwan 1.8 31.2 % Philippines 1.7 29.0 % Total 5.7 100.0 % Total Traffic7 Singapore 3.1 17.6 % Hong Kong 3.3 18.7 % Taiwan 5.9 33.5 % Philippines 5.3 30.1 % Total 17.5 100.0 % As of March 31, 2025 2024 (in millions, except for percentages) MoneyHero Group Members Singapore 1.4 16.7 % 1.2 21.0 % Hong Kong 0.9 11.0 % 0.7 12.6 % Taiwan 0.4 4.6 % 0.3 4.5 % Philippines 5.5 67.7 % 3.4 57.2 % Malaysia 0.0 0.0 % 0.3 4.8 % Total 8.1 100.0 % 5.9 100.0 % Conference Call Details The Company will host a conference call and webcast on Friday, June 13, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company's financial results. The MoneyHero Limited (NASDAQ: MNY) Q1 2025 Earnings call can be accessed by registering at: Webcast: call: The webcast replay will be available on the Investor Relations website for 12 months following the event. _____________________________________7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology. About MoneyHero GroupMoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at March 31, 2025, and had approximately 5.7 million Monthly Unique Users across its platform for the three months ended March 31, 2025. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit Key Performance Metrics and Non-IFRS Financial Measures Historically, we utilized data from Universal Analytics ('UA'), Google's analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 ('GA4') replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024. 'Monthly Unique User' means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user. 'Traffic' means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source. 'MoneyHero Group Members' means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated. 'Clicks' means the sum of unique clicks by product item on a tagged 'Apply Now', 'Express Buy', 'Buy' or similar button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates. 'Applications' means the total number of product applications submitted by users and confirmed by our commercial partners. 'Approved Applications' means the number of applications that have been approved and confirmed by our commercial partners. In addition to MoneyHero Group's results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax. Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year/period plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), equity-settled share-based payment expenses, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP. For the Three Months Ended March 31, 2025 2024 (US$ in thousands) Loss for the period (2,449 ) (13,100 ) Tax expenses - 52 Depreciation and amortization 302 981 Interest income (131 ) (595 ) Finance costs 14 8 EBITDA (2,265 ) (12,654 ) Non-cash items: Changes in fair value of financial instruments (473 ) 1,346 Equity settled share-based payment arising from employee share incentive scheme 441 623 Unrealized foreign exchange (gain)/loss, net (1,012 ) 4,036 Listing and other non-recurring strategic exercises related items: Transaction expenses - 35 Other non-recurring items: Non-recurring legal fees - 174 Adjusted EBITDA (3,309 ) (6,440 ) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Adjusted EBITDA Margin (23.1 )% (29.0 )% Forward Looking Statements This document includes 'forward-looking statements' within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group's growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'predicts,' 'intends,' 'trends,' 'plans,' 'estimates,' 'anticipates' or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company's ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the 'Group') operates; the Group's ability to achieve profitability despite a history of losses; and the Group's ability to implement its growth strategies and manage its growth; the Group's ability to meet consumer expectations; the success of the Group's new product or service offerings; the Group's ability to attract traffic to its websites; the Group's internal controls; fluctuations in foreign currency exchange rates; the Group's ability to raise capital; media coverage of the Group; the Group's ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group's ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group's strategic investments and acquisitions, changes in the Group's relationship with its current customers, suppliers and service providers; disruptions to the Group's information technology systems and networks; the Group's ability to grow and protect its brand and the Group's reputation; the Group's ability to protect its intellectual property; changes in regulation and other contingencies; the Group's ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group's industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's annual report for the year ended December 31, 2024 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company's expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company. For inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ Unaudited Consolidated Statements of Loss and Other Comprehensive (Loss)/Income For the Three Months Ended March 31, (US$ in thousands, except for loss per share) 2025 2024 Revenue 14,314 22,175 Cost and expenses: Cost of revenue (6,363 ) (14,106 ) Advertising and marketing expenses (4,584 ) (6,132 ) Technology costs (816 ) (1,851 ) Employee benefit expenses (4,354 ) (5,878 ) General, administrative and other operating expenses (2,190 ) (2,387 ) Foreign exchange differences, net 954 (4,112 ) Operating loss (3,040 ) (12,291 ) Other income/(expenses): Other income 131 597 Finance costs (14 ) (8 ) Changes in fair value of financial instruments 473 (1,346 ) Loss before tax (2,449 ) (13,048 ) Income tax expense - (52 ) Loss for the period (2,449 ) (13,100 ) Other comprehensive (loss)/income Other comprehensive (loss)/income that may be classified to profit or loss in subsequent periods (net of tax): Exchange differences on translation of foreign operations (1,378 ) 3,713 Other comprehensive (loss)/income that will not be reclassified to profit or loss in subsequent periods (net of tax): Remeasurement gains on defined benefit plan - 1 Other comprehensive (loss)/income for the period, net of tax (1,378 ) 3,714 Total comprehensive loss for the period, net of tax (3,827 ) (9,386 ) Loss per share attributable to ordinary equity holders of the parent Basic and diluted (0.1 ) (0.3 ) Unaudited Consolidated Statements of Financial Position As of March 31, As of December 31, (US$ in thousands) 2025 2024 NON-CURRENT ASSETS Non-current financial asset 600 600 Intangible assets 1,215 1,018 Property and equipment 174 215 Right-of-use assets 1,034 744 Deposits 36 25 Total non-current assets 3,059 2,601 CURRENT ASSETS Accounts receivable 14,559 13,538 Contract assets 12,571 11,825 Prepayments and other assets 9,413 10,149 Tax recoverable 108 63 Pledged bank deposits 188 185 Cash and cash equivalents 36,634 42,522 Total current assets 73,472 78,282 CURRENT LIABILITIES Accounts and other payable 29,400 30,209 Warrant liabilities 920 1,393 Lease liabilities 625 442 Tax payable 33 32 Provisions 30 71 Total current liabilities 31,007 32,147 NET CURRENT ASSETS 42,465 46,135 TOTAL ASSETS LESS CURRENT LIABILITIES 45,524 48,736 NON-CURRENT LIABILITIES Lease liabilities 424 294 Provisions 42 - Deferred tax liabilities 30 30 Defined benefit liabilities 187 185 Total non-current liabilities 683 509 Net assets 44,841 48,227 EQUITY Issued capital 4 4 Reserves 44,837 48,223 Total equity 44,841 48,227 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
MoneyHero Group Expands Digital Asset Wealth Product Offerings in Hong Kong in Strategic Collaboration with OSL
The collaboration with OSL, a leading regulated platform in Asia, marks MoneyHero's strategic expansion into the digital asset landscape, empowering users to make smarter and more informed financial decisions HONG KONG, June 09, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) ('MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced a strategic collaboration with OSL Group Limited (HKEX: 863) ('OSL'), Asia's leading regulated digital asset platform, to expand its digital asset wealth product offerings. This collaboration marks a key step as MoneyHero expands its wealth products offerings in Hong Kong to include digital asset-related services provided by Securities and Futures Commission of Hong Kong ('SFC')-licensed institutions, aiming to enhance financial wellbeing for consumers in Hong Kong. Through this collaboration, MoneyHero users can compare digital asset account products offered by leading SFC-licensed platforms like OSL, alongside insurance, stock, and bank account products, empowering them to make smarter and more informed financial decisions with a broader range of product choices. Hong Kong's growing interest in digital assets reflects increasing demand for diversified financial solutions. According to data from Investor and Financial Education Council (IFEC)1, a subsidiary of the SFC, 8% of retail investors in Hong Kong invested in virtual assets and related products in 2023, up from just 1% in 2019, while 11% of retail investors showed intention to invest in these products - reflecting the growing direct participation and interest that MoneyHero and OSL are addressing. Rohith Murthy, CEO of MoneyHero, said: "We are thrilled to work with OSL, a recognised leader in the regulated digital asset space in Asia. This collaboration reflects our unique value proposition and position as the leading digital acquisition partner for the majority of banks across Greater Southeast Asia, which we are leveraging to extend our offerings into the digital asset space. We are committed to providing our users with comprehensive financial solutions and access to emerging asset classes in a responsible and informed manner. OSL's strong regulatory compliance and institutional expertise provide valuable support for our expansion into the sector, where we also see significant potential to broaden our offerings in the future." Jack Derong, CMO of OSL, said: "We are delighted to join forces with MoneyHero, an established and trusted platform across Southeast Asia. We believe that providing accessible and regulated pathways to digital assets is crucial for the industry's sustainable growth. MoneyHero's extensive user network and transparent and reliable comparison tools will empower a wider audience with the knowledge and access to participate in the digital asset economy with confidence." About MoneyHero Group MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at 31 December 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended 31 December 2024. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit About OSL GroupOSL Group (HKEX: is a leading global financial infrastructure platform bridging traditional finance and the digital asset economy through blockchain technology. The Group is dedicated to providing efficient, seamless, and regulatory-compliant financial services to individuals and businesses worldwide. OSL delivers a comprehensive suite of regulated services through its licensed platforms, including 24/7 OTC brokerage with deep liquidity fiat gateways and competitive pricing; omnibus brokerage solutions enabling traditional financial institutions to integrate digital assets; SOC 2 Type 2-certified custody with up to US$1 billion insurance protection; and compliant retail trading channels; wealth management solutions, including scheduled launches on tokenised treasuries and RWAs; and in preparation for cross-border payment infrastructure via OSL Pay. "Open, Secure, Licensed" are the principles OSL lives by. OSL is expanding its compliant infrastructure across Japan, Australia, and Europe, potentially Southeast Asia, powering the next generation of global financial more information, please visit For MoneyHero inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ For OSL inquiries, please contact:OSL Media Teammedia@ Disclaimer The Company and its subsidiaries do not hold any license issued by the SFC and do not engage in any regulated activities as defined under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). This press release is for informational purposes only and does not constitute, nor is it intended to constitute, an offer or invitation to provide any securities, investment, or other regulated services to the public in Hong Kong. 1Investor and Financial Education Council. (2023). Retail Investor Study 2023. Retrieved from
Straits Times
12-06-2025
- Business
- Straits Times
MoneyHero's CEO Rohith Murthy lays out path towards sustainable profitability
BRANDED CONTENT MoneyHero's new playbook: CEO Rohith Murthy lays out path towards sustainable profitability The fintech group is pivoting to higher margin financial services to drive progress toward positive adjusted Ebitda in the latter part of the year, reflecting disciplined focus on operational efficiency and sustainable profitability In a market where conventional wisdom keeps failing, MoneyHero chief executive officer Rohith Murthy is banking on the oldest playbook in business – diversify revenue, slash costs. MoneyHero Group, which boasts a diverse portfolio that includes the personal finance site SingSaver, Singapore's largest personal finance community Seedly, and the B2B platform Creatory, has implemented a clear strategy to diversify its revenue streams and to significantly reduce financial losses, he said in a recent interview. Listed on the Nasdaq in October 2023, MoneyHero joined a growing number of Singapore-based start-ups marking their presence on the US stock exchange. While the stock price has faced headwinds since being listed, MoneyHero maintains zero debt and strong cash reserves, positioning it well for future growth. In this interview, Mr Murthy discusses how MoneyHero is actively reshaping its business model to drive long-term growth and enhance shareholder value amid a volatile market environment. To achieve profitability, MoneyHero is strategically focusing on higher-margin areas such as insurance and wealth management. Q: Let's start by sharing your journey. What's the original vision behind MoneyHero, and what was the motivation for taking the company public in the US? A: The MoneyHero journey spans nearly a decade long, driven by a straightforward vision: to simplify personal finance and make it a lot more accessible to everyone. Today, we operate across Singapore, Hong Kong, Taiwan and the Philippines, holding the largest market share by revenue in these markets. In Hong Kong, our brand is MoneyHero; in Singapore, SingSaver and Seedly; in Taiwan, Money101; in the Philippines, Moneymax; and the B2B platform Creatory operating across our markets. Our platform serves approximately 7.5 million registered members, and we have facilitated more than 1.7 million financial applications. Achieving this scale has helped us build strong trust – not only with consumers, but also with financial institutions. We believe that we need to build a comprehensive ecosystem so we are constantly looking at enhancing it. For instance, we have a strategic partnership with credit bureau TransUnion in Hong Kong that allows us access to credit scoring data so we can make personalised recommendations to our Hong Kong users. Similarly, our collaboration with Boltech significantly accelerates our insurance growth, empowering us to offer seamless, end-to-end insurance purchasing journeys. Boltech's integration strengthens our ecosystem by seamlessly connecting banking and insurance services, further improving customer experience and overall value. Additionally, as a licensed insurance broker in three of our markets, we enable users to buy travel and other forms of general insurance or get real-time pricing for car insurance on our platform. Listing on Nasdaq was a deliberate decision that aligns us with global fintech best practices and gives us access to deeper, more sophisticated capital markets. It also allows us to cultivate strong relationships with investors who have a deep understanding of the fintech sector. Q: Since the Initial Public Offering (IPO), MoneyHero has faced scrutiny over its financial performance and share price. There are concerns over the expenses, growth sustainability and the risk of delisting. What would you say to the shareholders and the broader market so that they understand the journey you're on? A: We have been listed for over 18 months now and we're navigating a challenging environment. More importantly, we're undergoing a very meaningful internal transformation. Investor concerns are completely understandable, especially given how volatile market conditions are. What matters most is that we've been addressing these things directly and proactively – this has been my top priority since taking over as CEO. Despite recent market challenges, we've sharpened our focus on revenue quality, margin improvement, and tightened cost management. Looking at our full-year 2024 results, we significantly improved our adjusted Ebitda (earnings before interest, taxes, depreciation, and amortisation) loss in Q4 2024. When I took over in Q2 2024, it was US$9.3 million (S$12 million), and then we significantly improved it to US$2.9 million in Q4 2024 – representing substantial progress and clearly demonstrating our trajectory towards sustainable profitability. A key part of this transformation lies in our evolving revenue mix. Previously, credit cards were a primary revenue source, but we have pivoted towards higher-margin, recurring revenue streams such as insurance and wealth, which contributed over 20 per cent of our FY2024 revenue. Notably, revenue from our insurance products alone grew nearly 40 per cent year-on-year in FY2024, underscoring the success of our diversification efforts. Operationally, we made some tough decisions last year to restructure and significantly optimise our operating expenses. We are committed to maintaining a lean cost structure while sustaining our growth, all aimed at improving adjusted Ebitda and building long-term shareholder value. As at end 2024, we remained strongly capitalised with ample cash reserves and cash equivalents of approximately US$42.5 million and no debt. This solid financial position enables us to strategically invest in the next phase of growth. I want shareholders and potential investors to recognise that we are strongly backed by prominent investors such as Pacific Century Group (PCG), which fully support our strategic direction and long-term vision. Our leadership team, including myself, holds significant personal stakes in MoneyHero, ensuring full alignment with the goal of creating sustainable shareholder value. Q: What is your timeline for a clear path to profitability, and how do you hope to pivot the business into long term growth? A: Profitability is our absolute priority and lies at the core of the efficiency-focused strategy I introduced shortly after becoming CEO approximately 15 months ago. We target to progress toward positive adjusted Ebitda in the latter part of 2025 – a milestone we're increasingly confident of achieving, given our consistent quarterly improvements. To support this, we have adopted an artificial intelligence (AI) first strategy. Our teams are actively leveraging AI tools to boost productivity across areas such as content production, customer service, design and engineering. Another key focus is shifting our revenue mix towards higher-margin segments like insurance, lending and wealth management. We've already started that trajectory. As a digital platform, enhancing user experience remains a priority. Last year, we placed significant emphasis on data. We now operate a central data platform that enables us to better understand and serve our 7.5 million members through personalised recommendations and tailored services. This approach has helped reduce our reliance on paid marketing, which declined by 23 per cent year-over-year in Q4 2024. With AI-driven content production ramping up, we expect organic traffic growth to be a major driver of profitability. Globally, we've seen fintech aggregation platforms in the Western markets successfully emerge as consolidators, streamlining fragmented markets into sustainable, profitable ecosystems. MoneyHero is well positioned to lead similar transformation across Greater South-east Asia. Q: MoneyHero recently announced a strategic collaboration with OSL in the digital assets space. What's the rationale behind this, are you considering further investments in digital assets? A: This announcement marks an exciting and important first step for us as we strategically explore the digital assets space. The region is witnessing growing interest in digital asset accounts licensed by regulators such as the Securities and Futures Commission (SFC) of Hong Kong. Digital assets are increasingly viewed alongside traditional insurance, stocks and banking products, offering enhanced user experiences, greater product diversification and new monetisation opportunities for our platform. On a personal note, I've been closely studying companies like Strategy and Metaplanet that have successfully implemented digital asset strategies and subsequently delivered impressive stock performance. Their examples highlight the potential shareholder value that can be unlocked through well-considered moves that MoneyHero can make in this space. While we have not yet made definitive decisions regarding additional investments, we remain proactive and open-minded. Given our strong cash position and disciplined capital allocation approach, we are actively evaluating strategic opportunities in digital assets, carefully assessing risks, potential benefits and alignment with our long-term objectives. Q: In the next 12 months, what are the key markers of progress you hope to achieve, and how should stakeholders and customers evaluate them? A: The first is our focus on moving towards positive adjusted Ebitda during the latter part of the second half of the year. We are targeting US$100 million in full-year revenue for this year. Improving margins is going to be critical as we focus on both profitability and top-line growth. Second, we aim to scale our insurance business, particularly car insurance, which offers a recurring revenue stream. This is why we have prioritised rapid growth in this market and plan to apply this model more broadly across insurance and wealth management verticals. Additionally, we want to invest in membership strategies to reduce our reliance on paid marketing. While quarterly results provide updates on our strategic progress, it's important not to focus solely on these short-term figures. Examining our trailing 12-month trajectory offers a clearer view of how we are consistently improving across these key markers. By focusing on these broader trends and long-term indicators, stakeholders can gain a more accurate and meaningful understanding of our growth momentum and operational efficiency. Fintech is a massive term, and often, attention is given to businesses without clear business models or paths to profitability. This is why fintech aggregators are less frequently highlighted. But when you look around, fintech aggregators have proven globally to be profitable models, with numerous successful examples in Western markets. Q: What's the biggest learning moment in the transition from a private to public company, and what keeps you motivated as a leader in times of challenge and change? A: The journey so far has been truly transformative. Transitioning to a public company has instilled a new level of discipline in how we operate. While we've always been a metrics-driven company, the process has made us a lot more precise in our forecasting and planning. It's not easy, especially as a relatively small market cap company, but it has strengthened our approach. Our decision to go public in the US was a tough but deliberate one. We're not just building our own company – we're helping build confidence in the entire regional fintech ecosystem. We want fintech startups from Singapore, the Philippines, and beyond to know that they too can build successful companies and list on global exchanges. That's why I actively engage with many of these startups, offering partnership opportunities when they have unique technology or valuable data assets. Observing successful global fintech peers – where disciplined execution, clear paths to profitability, and strategic acquisitions have been key – reinforces our strategic clarity. Understanding these market dynamics globally helps us confidently navigate challenges and strategically position MoneyHero as a leading player in the region. The past 15 to 18 months have been challenging. However, how we successfully turn these obstacles into opportunities is what builds market-leading brands. Our belief in our mission is fundamental to overcoming these challenges. I'm privileged to lead a mission-driven, energetic and passionate team that embodies this belief every day. No matter how the landscape evolves, I am confident that we will remain a resilient organisation. Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
05-06-2025
- Business
- Yahoo
MoneyHero and RCBC Forge Strategic Partnership to Tap into the Philippines' Expanding Card Market
SINGAPORE, June 04, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ: MNY) (MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced a strategic partnership with Rizal Commercial Banking Corporation ('RCBC'), a trusted leader in Philippine banking known for its customer-focused innovation and inclusive financial services, through its card servicing entity, RCBC Bankard Services Corporation ('RCBC Credit Cards'). Through this collaboration, MoneyHero will integrate RCBC's full suite of rewards, lifestyle, travel, and premium credit card products into its digital platform, enabling Filipinos to seamlessly discover, compare, and apply for cards that suit their personal financial needs. This partnership significantly expands MoneyHero's credit card offerings in the Philippines and reinforces its position as the leading digital acquisition partner for banks and personal finance aggregation and comparison platforms in the region. By combining MoneyHero's digital conversion expertise with RCBC's strong growth momentum in consumer finance and strategic focus on data-driven innovation, the strategic partnership will improve customer experience and expand access to personal financial solutions. Together, they will advance a more inclusive and digitally empowered financial ecosystem for Filipinos. Rohith Murthy, CEO of MoneyHero, said: 'We are excited to welcome RCBC as a partner on our platform. By combining MoneyHero's aggregation technology with RCBC's rich credit card portfolio, we are empowering Filipino consumers to make smarter financial decisions. This partnership continues our mission to simplify financial choices for consumers while supporting our bank partners in driving digital acquisition at scale. This partnership accelerates our penetration into regional markets, deepens user engagement, and highlights our asset-light, mutually-beneficially partnership-led growth model.' Arniel Vincent B. Ong, RCBC Credit Cards President & CEO, said: 'We're excited to partner with MoneyHero to offer our full suite of credit cards directly to consumers through a seamless digital experience. Our credit card business has shown exceptional momentum, with credit card receivables growing 48% and cards in force increasing 21% in 2024 alone, underscoring strong consumer engagement. This rapid growth in credit cards will make us a powerful partner for MoneyHero's expanding presence in the country. By integrating with MoneyHero's platform, we're making it easier for Filipinos to compare and apply for the card that best fits their needs, strengthening our commitment to innovation and financial inclusion.' About MoneyHero Group MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at 31 December 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended 31 December 2024. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit About Rizal Commercial Banking Corporation RCBC is a leading financial services provider in the Philippines offering a wide range of banking and financial products and services. RCBC is engaged in all aspects of traditional banking, investment banking, microfinance, retail financing (auto, mortgage and housing loans, and credit cards), remittance, leasing, foreign exchange, and stock brokering. RCBC is a member of the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in South East Asia. For more information, please visit About RCBC Bankard Services Corporation RCBC Bankard Services Corporation ('RBSC') manages credit cards, personal loans, and merchant payment solutions for Rizal Commercial Banking Corporation ('RCBC'). RCBC and RBSC are part of the Yuchengco Group of Companies, one of Southeast Asia's oldest and largest conglomerates. RBSC provides innovative cashless payments and versatile add-on services. For more information about RBSC, please visit For MoneyHero inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ For Rizal Commercial Banking Corporation inquiries, please contact: RCBC Credit Cards:email@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
