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

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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.

Bitcoin has limited upside in the fourth quarter as the possibility of higher rates casts a shadow over cryptoGoldman Sachs says this global delivery platform's shares are set to soar over 100%Founded in 2014 and dual-headquartered in Singapore and Hong Kong, MoneyHero Group – formerly known as Hyphen Group or CompareAsia Group – operates online financial comparison platforms with product comparison tools that recommend services such as credit cards, personal loans, mortgages and insurance...

MoneyHero says it currently works with 270 financial institutions, which includes banks and insurance firms, and saw 9.1 million average monthly unique users during the first six months of 2023.

 

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Asia fintech MoneyHero slides on first day of trading after merger with Peter Thiel-backed SPACMoneyHero began trading on the Nasdaq on Friday, following completion of its merger with special purpose acquisition company Bridgetown Holdings.
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