Malaysian fintech firm JurisTech acquires financial comparison site iMoney

Malaysia-based fintech company JurisTech today announced that it has acquired personal finance company iMoney for an undisclosed amount.

JurisTech CEO and co-founder Wai Hun See / Photo credit: JurisTech

JurisTech specializes in enterprise-level software solutions for banks, financial institutions, insurance providers, and telecommunications companies in Malaysia, Southeast Asia, and beyond.

Meanwhile, iMoney provides a platform for consumers to learn about personal finance matters and to compare and apply for financial and utility products.

Following the acquisition, the two businesses envision building a platform to offer solutions for both business-to-business and business-to-consumer partners in the finance and banking industry, said Wai Hun See, co-founder and CEO of JurisTech.

The duo aims to revolutionize the financial services industry where “faster loan approvals and accurate matching of the right financial products for consumers can only be achieved with superior technology coupled with consumer know-how,” according to a statement.

Founded in 2012, iMoney started out offering advertising and other digital assets on its website as well as content marketing services to its partners. It later expanded its offerings to financial services marketing, including brand and marketing campaigns, creative services, content marketing, digital marketing, and social media campaigns and content.

It also works with financial services providers – from banks and government organizations to fintech startups – to educate Malaysians on personal finance topics.

In 2017, Australia-listed iSelect bought shares worth over US$4.1 million in iMoney after it invested US$4 million in the company’s series B round in 2014, giving it majority ownership of the startup. The financial comparison site’s previous investors include 500 Startups, Jungle Ventures, Asia Venture Group, and IMJ Investment Partners, among others.