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.