Latest news with #bolttech
Yahoo
14-06-2025
- Business
- Yahoo
MoneyHero Ltd (MNY) Q1 2025 Earnings Call Highlights: Strategic Shifts Propel Margin ...
Revenue: Declined 35% year-over-year to $14.3 million. Gross Margin: Improved as cost of revenue dropped by 55% year-over-year, accounting for 44% of revenue. Net Loss: Narrowed to $2.4 million from $13.1 million a year ago. Adjusted EBITDA Loss: Improved to $3.3 million. Cash Position: $36.6 million in cash with no debt. Credit Card Revenue: Contributed 57% of total revenue, down from over 70% in previous years. Insurance Revenue: Increased to 13% of total revenue. Personal Loans Revenue: Accounted for 17% of total revenue. Wealth Revenue: Doubled to 12% of total revenue. Operating Expenses: Declined 26% year-over-year. Warning! GuruFocus has detected 3 Warning Signs with MNY. Release Date: June 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MoneyHero Ltd (NASDAQ:MNY) is on track to achieve positive adjusted EBITDA in the latter part of the second half of 2025, marking a transition to a self-sustaining profitable growth trajectory. The company has successfully diversified its revenue streams, with wealth and insurance verticals now contributing approximately 25% of total revenue, up 11 percentage points year-over-year. Gross margins have improved substantially due to strategic initiatives, including reducing low ROI paid marketing and enhancing user experience. The partnership with bolttech in Hong Kong has led to a smoother user experience in car insurance, driving higher conversion rates and generating recurring revenue through policy renewals. MoneyHero Ltd (NASDAQ:MNY) has implemented an AI-first strategy to automate processes, reduce costs, and enhance productivity, resulting in a 26% year-over-year reduction in employee-related costs. Top line revenue in Q1 fell year-on-year due to a strategic pullback in aggressive marketing spend, prioritizing revenue quality over volume. Revenue declined 35% year-over-year to $14.3 million, reflecting the strategic pivot to reduce marketing spend and focus on higher quality and margin products. The company faces challenges in the Philippines market due to the exit of a major banking partner, although recovery efforts are underway. Despite improvements, MoneyHero Ltd (NASDAQ:MNY) still reported a net loss of $2.4 million in Q1, although this was a significant improvement from the previous year. Stock liquidity has been below expectations since listing, prompting efforts to expand the shareholder base and improve market visibility. Q: Can you elaborate on the partnership with OSL and your plans for entering the digital asset space? A: Rohith Murthy, CEO: The partnership with OSL marks an exciting step for us into the digital asset space, which offers enhanced user experiences and new monetization opportunities. We aim to replicate our success as a digital acquisition partner for banks in the digital asset ecosystem. While no definitive decisions have been made regarding additional investments, we are evaluating strategic opportunities in digital assets, aligning with our focus on expanding higher-margin verticals. Q: With the significant reduction in cost of revenue, is this margin improvement sustainable as you scale to $100 million revenue? A: Danny Leung, Interim CFO: The reduction in cost of revenue is a result of a strategic shift towards higher-margin verticals like insurance and wealth management. We have optimized rewards and promotional programs, reducing spending while maintaining conversion rates. This disciplined approach prioritizes quality and margin expansion over rapid volume growth, positioning us for sustainable long-term growth. Q: What kind of increases do you expect in operating costs as you scale to $100 million revenue? A: Danny Leung, Interim CFO: While we anticipate some incremental increases in operating costs as we grow, these will be at a slower rate than revenue growth. Our technology infrastructure and operational processes are designed to scale efficiently, allowing us to accommodate increased transaction volumes without proportionally higher expenses. Strategic investments in high-margin verticals and AI-driven automation will further enhance our ability to scale profitably. Q: Can you elaborate on the early traction from the bolttech partnership in car insurance and its significance to your long-term strategy? A: Rohith Murthy, CEO: The bolttech partnership is transformative for our insurance business, offering a seamless digital experience with real-time price quotes. Early results show higher conversion rates and strong unit economics. This partnership enables us to build recurring revenue through policy renewals and enhances customer lifetime value by encouraging cross-purchases across our financial product catalog. Q: How does the Credit Hero Club partnership with TransUnion enhance your monetization potential and user engagement? A: Rohith Murthy, CEO: The Credit Hero Club, in partnership with TransUnion, allows us to make personalized recommendations based on real-time credit data. This improves approval rates, user retention, and engagement. The rich data enables tailored cross-selling across our product portfolio, increasing user satisfaction and lifetime value. This shifts us towards a data-driven engagement model, unlocking new monetization opportunities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
14-06-2025
- Business
- Yahoo
MoneyHero Ltd (MNY) Q1 2025 Earnings Call Highlights: Strategic Shifts Propel Margin ...
Revenue: Declined 35% year-over-year to $14.3 million. Gross Margin: Improved as cost of revenue dropped by 55% year-over-year, accounting for 44% of revenue. Net Loss: Narrowed to $2.4 million from $13.1 million a year ago. Adjusted EBITDA Loss: Improved to $3.3 million. Cash Position: $36.6 million in cash with no debt. Credit Card Revenue: Contributed 57% of total revenue, down from over 70% in previous years. Insurance Revenue: Increased to 13% of total revenue. Personal Loans Revenue: Accounted for 17% of total revenue. Wealth Revenue: Doubled to 12% of total revenue. Operating Expenses: Declined 26% year-over-year. Warning! GuruFocus has detected 3 Warning Signs with MNY. Release Date: June 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MoneyHero Ltd (NASDAQ:MNY) is on track to achieve positive adjusted EBITDA in the latter part of the second half of 2025, marking a transition to a self-sustaining profitable growth trajectory. The company has successfully diversified its revenue streams, with wealth and insurance verticals now contributing approximately 25% of total revenue, up 11 percentage points year-over-year. Gross margins have improved substantially due to strategic initiatives, including reducing low ROI paid marketing and enhancing user experience. The partnership with bolttech in Hong Kong has led to a smoother user experience in car insurance, driving higher conversion rates and generating recurring revenue through policy renewals. MoneyHero Ltd (NASDAQ:MNY) has implemented an AI-first strategy to automate processes, reduce costs, and enhance productivity, resulting in a 26% year-over-year reduction in employee-related costs. Top line revenue in Q1 fell year-on-year due to a strategic pullback in aggressive marketing spend, prioritizing revenue quality over volume. Revenue declined 35% year-over-year to $14.3 million, reflecting the strategic pivot to reduce marketing spend and focus on higher quality and margin products. The company faces challenges in the Philippines market due to the exit of a major banking partner, although recovery efforts are underway. Despite improvements, MoneyHero Ltd (NASDAQ:MNY) still reported a net loss of $2.4 million in Q1, although this was a significant improvement from the previous year. Stock liquidity has been below expectations since listing, prompting efforts to expand the shareholder base and improve market visibility. Q: Can you elaborate on the partnership with OSL and your plans for entering the digital asset space? A: Rohith Murthy, CEO: The partnership with OSL marks an exciting step for us into the digital asset space, which offers enhanced user experiences and new monetization opportunities. We aim to replicate our success as a digital acquisition partner for banks in the digital asset ecosystem. While no definitive decisions have been made regarding additional investments, we are evaluating strategic opportunities in digital assets, aligning with our focus on expanding higher-margin verticals. Q: With the significant reduction in cost of revenue, is this margin improvement sustainable as you scale to $100 million revenue? A: Danny Leung, Interim CFO: The reduction in cost of revenue is a result of a strategic shift towards higher-margin verticals like insurance and wealth management. We have optimized rewards and promotional programs, reducing spending while maintaining conversion rates. This disciplined approach prioritizes quality and margin expansion over rapid volume growth, positioning us for sustainable long-term growth. Q: What kind of increases do you expect in operating costs as you scale to $100 million revenue? A: Danny Leung, Interim CFO: While we anticipate some incremental increases in operating costs as we grow, these will be at a slower rate than revenue growth. Our technology infrastructure and operational processes are designed to scale efficiently, allowing us to accommodate increased transaction volumes without proportionally higher expenses. Strategic investments in high-margin verticals and AI-driven automation will further enhance our ability to scale profitably. Q: Can you elaborate on the early traction from the bolttech partnership in car insurance and its significance to your long-term strategy? A: Rohith Murthy, CEO: The bolttech partnership is transformative for our insurance business, offering a seamless digital experience with real-time price quotes. Early results show higher conversion rates and strong unit economics. This partnership enables us to build recurring revenue through policy renewals and enhances customer lifetime value by encouraging cross-purchases across our financial product catalog. Q: How does the Credit Hero Club partnership with TransUnion enhance your monetization potential and user engagement? A: Rohith Murthy, CEO: The Credit Hero Club, in partnership with TransUnion, allows us to make personalized recommendations based on real-time credit data. This improves approval rates, user retention, and engagement. The rich data enables tailored cross-selling across our product portfolio, increasing user satisfaction and lifetime value. This shifts us towards a data-driven engagement model, unlocking new monetization opportunities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Insurtech company bolttech raises $147m at $2.1bn valuation
Singapore-based insurtech company bolttech has wrapped up its Series C funding round, raising $147m (S$188.87m), with a company valuation of $2.1bn. The funding round, initiated in December 2024, added new investors including Sumitomo Corporation and Portugal's Iberis Capital. The company intends to use the funds to enhance its platform and advance its global growth strategy. Last month, Sumitomo Corporation formed a joint venture with bolttech to provide embedded insurance programmes and end-to-end services for partners across Asia. Sumitomo Corporation Media & Digital Group CEO Shinichi Kato stated: 'We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. 'We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region.' Both Sumitomo Corporation and Iberis Capital join a consortium of existing investors comprising Dragon Fund, Baillie Gifford and Generali's Lion River. bolttech CEO Rob Schimek said: 'We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. 'We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.' Last month, bolttech integrated AWS generative AI solutions to optimise its operations and customer service. The bolttech Gen AI Factory platform, built on Amazon Bedrock, complements the company's call centre operations powered by Amazon Connect and Amazon Lex. "Insurtech company bolttech raises $147m at $2.1bn valuation " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
05-06-2025
- Business
- Korea Herald
bolttech closes Series C fundraise, welcomes strategic investors Sumitomo Corporation and Iberis Capital
With investments totalling US$147 million, bolttech closes Series C with t he addition of new investors SINGAPORE, June 4, 2025 /PRNewswire/ -- bolttech, the fast-growing global insurtech, today announced the addition of Sumitomo Corporation, one of Japan's largest trading houses, and Iberis Capital, a leading private equity and venture capital manager in Portugal, as strategic investors. Their participation marks the successful close of bolttech's Series C funding round, with shares acquired by Series C investors in the amount of US$147 million, reflecting a company valuation of US$2.1 billion. In addition to Sumitomo Corporation becoming a strategic investor, the company has entered a joint venture with bolttech to deliver embedded insurance programmes and complementary end-to-end services for partners in Asia. Sumitomo Corporation and Iberis Capital join Dragon Fund, Baillie Gifford, Generali's Lion River, and other investors in bolttech's Series C funding round closing. This investment will enable the company to enhance its platform's capabilities and accelerate its global growth strategy, to make insurance more personalised, accessible, affordable, and convenient for customers. Shinichi Kato, Group CEO of Media & Digital Group, Sumitomo Corporation, said, "We are thrilled to join forces with bolttech – both as a strategic investor and through our joint venture. We are confident that this partnership will enable us to work closely with the bolttech team to drive growth and innovation across the Asia region." Luís Quaresma, Partner, Iberis Capital, said, "bolttech has emerged as a leading embedded insurtech player spanning a global footprint in a short amount of time. We are impressed by its tech capabilities, strategic vision for the future of insurance and its highly talented management team. We look forward to contributing to its next phase of growth, supporting the continued advancement of its unique solution." Rob Schimek, Group Chief Executive Officer, bolttech, said, "We are delighted to welcome our newest strategic investors Sumitomo Corporation and Iberis Capital as we successfully close our Series C. This investment is a strong endorsement of our unique business proposition, reinforcing our commitment to enabling a better insurance experience for customers worldwide. We are excited to continue our journey to build the future of insurance, working towards our vision of connecting people with more ways to protect the things they value."
Yahoo
02-06-2025
- Business
- Yahoo
bolttech powers Generative AI-driven hyper-personalized customer services on AWS
The international insurtech company expects streamlined customer services platforms to deliver enhanced and personalized experiences, while reducing costs SINGAPORE, June 2, 2025 /PRNewswire/ -- Amazon Web Services (AWS) today announced that bolttech, a Singapore-headquartered international insurtech company, is implementing AWS generative AI (Gen AI) solutions across its customer and internal workflows, enhancing its operational efficiency and customer experiences while reducing costs. bolttech, which serves millions of customers across 37 markets on four continents, built its Gen AI platform, "bolttech Gen AI Factory", using Amazon Bedrock. The Gen AI solution enhances its existing omnichannel call center platform – already running on Amazon Connect and Amazon Lex – by integrating agentic AI. First, it integrates advanced speech-to-speech capabilities into bolttech's chatbots, enabling seamless, natural conversations with customers in multiple languages. This is initially being piloted in Korean. The solution provides real-time, personalized responses to customers' insurance policy questions, in their native language and across a wide range of simple and complex enquiries, with near-instant response times. By automating routine tasks, such as basic claims processing, human agents can now focus on higher value interactions, while boosting operational efficiency and reinforcing bolttech's commitment to world-class customer satisfaction across its global operations. Philip Weiner, CEO, Asia, bolttech, said: "At bolttech, we remain steadfast in our vision to connect people with more ways to protect the things they value. To achieve this at scale, we rely on the right data and AI infrastructure. AWS's cloud computing and Gen AI services, including Amazon Bedrock, provide the foundation to access diverse model choices, deliver superior price-performance ratios, and robust trust and safety enterprise features that align perfectly with our needs. The ability to select from various AI models, such as Amazon Nova, helps support rapid innovation to improve customer experiences in our industry, including how we can offer real-time policy explanations, instant claims processing, and near-human AI interactions by leveraging advances in agentic AI. With this collaboration, we can enhance our ability to deliver more choice to our partners and their customers, ensuring they have access to the most innovative protection solutions available." Besides claims resolution and call center augmentation, bolttech Gen AI Factory also serves as an enterprise-wide innovation engine. It enables internal teams to develop and deploy their own Gen AI applications across the entire insurance value chain, from underwriting and claims processing, to customer service and product development. With AWS's infrastructure, bolttech will leverage AI to improve prediction, prevention and recovery in its customer product offerings: Prediction: Using AI to enhance risk assessment and provide personalized insurance products, such as real-time adjusted premiums based on driving behaviour for auto insurance; Prevention: Implementing AI-driven early warning systems for cyber threats, natural disasters or adverse events, allowing policyholders to take preventive actions and minimize potential losses; Recovery: Deploying AI-powered chatbots and virtual assistants to expedite claims processing and provide instant support to policyholders in the aftermath of an incident. These innovations aim to reduce loss ratios over time and provide rapid, holistic recovery and remediation when unavoidable loss events occur. "The insurance sector in Southeast Asia is using the latest cloud technology and generative AI to make protecting assets easier, more affordable, and more intuitive," said Priscilla Chong, Country Manager, AWS Singapore. "bolttech is an example of a company delivering innovation using generative AI to enhance customer experiences, improve operational efficiency, and drive innovation in how insurance services are delivered and consumed globally. We're thrilled to support bolttech, and we're pleased that AWS's choice-based, model-agnostic approach is delivering AI-powered convenience to discerning customers at the forefront of the AI revolution." bolttech is already leveraging AWS solutions to streamline its software development lifecycle and accelerate time to market. With trial use cases of Amazon Q Developer, bolttech was able to reduce time spent updating code documentation files by over 50%, freeing up valuable development time. Another noticeable advantage was the reduction in time spent learning new codebases. Amazon Q Developer is able to analyse large sets of files in minutes, and feed back to developers' high-level purpose and low-level details, hastening learning. Finally, Amazon Q Developer performed well with the programming languages used at bolttech, Javascript and Python, making it a valuable tool for a wide range of staff, from backend and frontend developers to data scientists. As a result, bolttech's developers can now focus more on coding and multitasking without significant distractions. View original content: SOURCE bolttech 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
