Asia fintech MoneyHero slides on first day of trading after merger with Peter Thiel-backed SPAC

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 55 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

MoneyHero began trading on the Nasdaq on Friday, following completion of its merger with special purpose acquisition company Bridgetown Holdings.

Asian fintech firm MoneyHero began trading in the U.S. on Friday, via a merger with Thiel-backed SPAC Bridgetown Holdings.

Bridgetown Holdings Limited is backed by Thiel Capital – PayPal co-founder Peter Thiel's venture capital firm – and Pacific Century Group, a private investment group founded and chaired by Hong Kong tycoon Richard Li.are shell companies that raise capital in an IPO and use the cash to merge with a private company in order to take it public, usually within two years.

Across five markets, MoneyHero operates personal finance websites Singsaver and Seedly in Singapore, Moneymax in The Philippines, MoneyHero in Hong Kong, Money101 in Taiwan and CompareHero in Malaysia. Singapore is the firm's largest market, followed by Hong Kong and The Philippines, said Aggarwal.for the two years ending Dec. 31 2021 and Dec. 31 2022 were approximately $31.0 million and $49.4 million respectively.

"These are users who are coming on our websites looking for answers. Our objective is to simplify the complexities of financial products and connect these users to the providers," said Aggarwal, who has held executive positions at Visa and American Express.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in BUSİNESS

Business Business Latest News, Business Business Headlines