December 4, 2022

Vinod Nair, Founder and CEO of MoneySmart Group

MoneySmart Group, which operates financial content and comparison platforms in Singapore and Hong Kong, plans to list on the Singapore Stock Exchange (SGX) via a reverse takeover deal with hotel operator Asia Pacific Strategic Investments (APS).

According to a press release, the deal is valued at $161.7 million.

The purchase price will be settled through the issuance of new common shares by Asia-Pacific Strategic Investments, which will collectively represent 80 percent of the Company’s expanded share capital upon the expected closing of the acquisition and a listing in the first half of 2023.

Also read: How was MoneySmart able to increase its sales by 25 percent in the midst of a pandemic?

The hotel operator APS has held talks about a reverse takeover of the personnel finance portal MoneySmart.

The listing on SGX will help 13-year-old MoneySmart raise capital for its strategic plans in Singapore and the region.

With the capital, MoneySmart anticipates rapid growth through investments in its membership and rewards programs. In addition, it will also promote other strategic partnerships through potential mergers and acquisitions.

MoneySmart Group will also invest heavily in its new Bubblegum insurance brand. Launched with auto and travel insurance earlier this year, Bubblegum aims to redefine the insurance experience for all customers.

Founded in 2009, MoneySmart Group operates financial content and comparison platforms in Singapore and Hong Kong. It provides aggregation, comparison and financial advisory services for mortgage and insurance products to help customers make the best decisions with their money (loan, insurance or credit cards). MoneySmart also provides readers with money-related tips, tricks, news, reviews and commentary.

Also read: Don’t know which credit card to use for an invoice? MoneySmart’s new app has the answer

In 2017, MoneySmart raised S$14 million (US$10 million at the time) in a Series B round led by Kakaku.com, a Japanese online service provider. Existing investors SPH Media Fund and Golden Gate Ventures were also involved.

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