MoneySmart acquires Indonesia’s KreditAja

Singapore-based personal finance portal MoneySmart has acquired its counterpart in Indonesia – KreditAja – for an undisclosed amount in a full equity deal.

The Indonesian firm will get a minority stake in MoneySmart, which boasts of 500k monthly visitors and annual sales to the tune of $800k.

“Indonesia is a huge market and has a massive growth potential which compliments our number one position in Singapore. Our complimentary strengths will enable us to rapidly deliver on our product development and acquisition plans,” MoneySmart chief executive Vinod Nair said.

According to the company’s website, MoneySmart was founded in 2009 and is aimed at helping Singaporeans make better financial decisions. KreditAja was launched last year and its 11-member team will now be integrated with MoneySmart, and the new management team of the combined entity will be based in Singapore.

“Moneysmart is already a well-known brand in Singapore and bringing the two businesses together gives us a fantastic platform to move forward quickly with our development plans in Indonesia. The teams in Singapore and Jakarta are already working closely together and sharing their expertise in technology, content and search marketing. We will be introducing some amazing new products and services in the coming months,” said Kredit Asia chief executive Rob Barnes.

Last year MoneySmart had raised financing to the tune of $471k from Golden Gate Ventures and NRF.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.