Jirnexu is the parent company of Jirnexu Sdn. Bhd., which operates RinggitPlus, one of Malaysia’s largest B2C platforms. As part of this transaction, MoneyHero’s B2C brand ‘CompareHero’, operating in Malaysia, along with its website, domain names, select user data, and IP rights, will be acquired by Jirnexu Sdn. Bhd.
Post-transaction, the CompareHero brand will continue to operate under Jirnexu Sdn. Bhd.’s systems. MoneyHero will retain an equity position in Jirnexu Pte. Ltd. The terms of the deal, expected to close in early July 2024, are confidential.
MoneyHero’s representatives stated that this strategic move is part of the company's pivot in Malaysia to align with their next growth phase, aiming to maximize value in the region and reallocate resources to core markets such as Singapore, Hong Kong, Taiwan, and the Philippines. This transition positions MoneyHero as a long-term investor in Malaysia without competing in other geographies.
CompareHero was launched by MoneyHero in 2013. Jirnexu Sdn. Bhd., and its brand, RinggitPlus, founded in 2013, focuses exclusively on Malaysia. Before this transaction, CompareHero and RinggitPlus were the two main operators in Malaysia. Murthy noted that CompareHero has grown into one of Malaysia’s top personal finance comparison platforms and assured that users can expect continued service quality and innovation under RinggitPlus.
MoneyHero is a player in the online personal finance and digital insurance aggregation sector in Greater Southeast Asia, operating in markets including Singapore, Hong Kong, Taiwan, and the Philippines. Its brands include MoneyHero, SingSaver, Money101, Moneymax, Seedly, and the B2B platform Creatory. The company holds an equity stake in Jirnexu Pte. Ltd. and manages 279 commercial partner relationships, servicing 8.7 million Monthly Unique Users as of December 31, 2023.
Jirnexu Sdn. Bhd. is a full-stack fintech solutions provider, offering customer acquisition and lifecycle management solutions for financial institutions. Its platform includes XpressApply, a software that streamlines online applications. RinggitPlus.com is Malaysia's leading financial comparison website, assisting users with credit card applications, personal loans, insurance plans, and mortgages.
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