On June 28, 2024, Jirnexu and MoneyHero Group announced a significant transaction whereby Jirnexu, a leading Malaysian fintech company and the parent of RinggitPlus, has acquired CompareHero, Malaysia-exclusive personal finance comparison platform by MoneyHero Group. The transaction includes CompareHero’s website, domain names, select user data, and IP rights. This acquisition will close in early July 2024. Post-acquisition, both RinggitPlus and CompareHero will continue to operate as separate brands but will integrate Jirnexu’s proprietary tech like the credit score-based recommendation engine into CompareHero. This move is expected to enhance user experience by providing personalized recommendations and streamlined application processes. The acquisition allows MoneyHero to retain an equity stake in Jirnexu and refocus its resources on core markets outside of Malaysia, such as Singapore, Hong Kong, Taiwan, and the Philippines. MoneyHero Group, which managed 279 commercial partner relationships and serviced 8.7 million Monthly Unique Users in 2023, considers this strategic pivot to align with its future growth prospects.

Fintech, Mergers and Acquisitions, Financial Services,Malaysia, Southeast Asia

Jirnexu hits new milestone with acquisition of CompareHero, here’s what will change for both