Business
MoneyHero Group Reports Fourth Quarter and Full Year 2023 Results
Fourth quarter revenue of US$26.4 million, up 53% Year-Over-Year Full year revenue of US$80.7 million, up 18% Year-Over-Year SINGAPORE, April 29, 2024 (GLOBE
About this update from Moneyhero Limited
[{"type":"text","content":"Fourth quarter revenue of US$26.4 million, up 53% Year-Over-Year Full year revenue of US$80.7 million, up 18% Year-Over-Year SINGAPORE, April 29, 2024 (GLOBE NEWSWIRE) -- MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a market leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced financial results for its fourth quarter and full year ended December 31, 2023. Management Commentary: Rohith Murthy, Chief Executive Officer, stated: “In a landmark quarter that capped off a monumental year for the business, MoneyHero not only reinforced its market leadership in Asia’s leading financial hubs of Singapore and Hong Kong, but also continued to capture significant market share away from our closest competitors, further establishing MoneyHero as the preferred consumer finance platform for top banks, as well as insurance partners across Greater Southeast Asia. Our focus on expanding insurance offerings, starting with travel insurance, has significantly increased direct purchases from our platform. This not only improves the user experience and engagement, but also our unit economics, enabling us to offer a wider range of relevant insurance products. As a result, our insurance revenue more than doubled this past year, underlining our growing focus on this rapidly expanding market. Beyond our core businesses and legacy markets, our progress in the Philippines was also especially remarkable, with revenue increasing 64% year-over-year in the fourth quarter, showcasing our ability to scale and appeal broadly across the emerging region. Additionally, Creatory, our innovative B2B2C platform, showed solid performance over the past year and now contributes to more than 17% of our group revenue, up from 12% last year. This reflects the strength of our diversified business model and our adeptness at quickly capitalizing on evolving digital content trends.” “Importantly, we ended 2023 by upgrading most of our leading comparison channels to a more advanced technology platform which also consolidated our comprehensive data into a streamlined system, enhancing both operational efficiency and user experience. As we look ahead in 2024 and beyond, our strategic direction is concentrated on four fundamental pillars: 1) Best Site—enhancing our platform to become the most us...