Tensions rise at MoneyHero

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In focus

• ​​MoneyHero investigates complaints about board chairman
• From our archives: revisit our BNPL survival map as Atome secures a new debt facility
• Thai unicorn Flash Group to cease logistics operations in Malaysia

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Hello reader,

I’ve started seeing M&As in a new light ever since being a part of one myself.

Anyone who has gone through one knows this: The integration process is never straightforward. When there are people involved that bring together different working styles and cultures, styles can clash.

In 2023, fintech firm MoneyHero listed on the Nasdaq via a merger with special purpose acquisition company Bridgetown Holdings. The move led to changes on its board and shareholding.

In today’s top story, I wrote about how MoneyHero is investigating a complaint made by an employee about its board chair.

Tensions at the firm appear to have escalated since we first covered the conflict between its management team and board chair in September 2024.

In spite of this, MoneyHero has narrowed its net losses in the past year and says it is nearing adjusted EBITDA profit, in what an employee describes as a “transformational year.”

In other news, buy now, pay later major Atome appears to be growing from strength to strength. A nine-figure debt round announced this week – from big banks like HSBC, DBS, and SMBC Singapore – signals a vote of confidence from large financial institutions and will further propel its regional expansion.

Melissa Goh, senior editor

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Top Story

MoneyHero probes board chairman as internal frictions rise

The Nasdaq-listed company has appointed its general counsel to lead the probe and has also engaged an external law firm.

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From our archives

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