iMoney operates an online platform that allows consumers to compare and apply for loans, car insurance, credit cards and other services from banking partners including OCBC, Maybank, AIA, CIMB, Alliance and AmBank. The company currently refers $70 million a month in business to financial institutions and says it is the largest financial comparison business in the region. iMoney is growing at double digits month-on-month. It plans to use the new capital to accelerate growth in Malaysia and expand into other markets where it already has a presence, such as Indonesia, Hong Kong and Thailand. The company will invest in user acquisition and strengthen operational teams on the ground. iMoney also appointed former CIMB, Citi and RBS banker Bruno Araujo as co-founder and Chief Revenue Officer. iMoney operates a free comparison platform for banking services and financial products, allowing users to compare and apply for mortgages, personal loans, credit cards and more. The site also maintains a large library of educational finance content designed to help consumers make informed decisions. According to the company, it averages 150,000 visitors per month and generates more than US$50 million in business for financial institutions each month. iMoney is based in Malaysia and has a shop in Kuala Lumpur. The startup is planning to expand across Southeast Asia, with Indonesia, the Philippines and Vietnam cited as next targets. CEO Lee Ching Wei says the site was born out of frustration over the lack of a public portal for comparing interest rates and applying for loans online.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2013