PETALING JAYA: Jirnexu Sdn Bhd, the parent company of RinggitPlus, is acquiring CompareHero, the Malaysian arm of Nasdaq-listed MoneyHero Limited.
The acquisition is expected to close early this month. This strategic move solidifies Jirnexu's leadership in Malaysia's fintech space enabling consumers to access financial products and services conveniently.
This acquisition marks a significant milestone, solidifying Jirnexu's market leadership and expanding its reach to serve a broader audience with its industry-leading proprietary technology, including a credit score-based recommendation engine.
As part of the agreement, MoneyHero Group will retain an equity stake in Jirnexu, transitioning from an operator to an investor and maximising the value of its interests in Malaysia through Jirnexu’s growth. MoneyHero Group will reallocate resources to growth opportunities in its core markets to continue driving value to its shareholders.
Jirnexu CEO Yuen Tuck Siew said, “This acquisition marks a significant step forward in our mission to empower Malaysians with the tools and resources they need to make informed financial decisions.”
MoneyHero CEO Rohith Murthy said users of CompareHero, fully merged into Jirnexu, can expect continuity with their service, as well as the same high levels of quality, capabilities, and innovation.
