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GTK: MoneyMatch | 'From Sembang Mamak to Fintech Hero'

Turns out mamaks aren't just great places to brew teh tarik but also ideas. Inspired by startups in the west, the big idea behind MoneyMatch was to provide cheaper, more convenient and accessible financial services to the masses!

Watch the rest of the MoneyMatch journey on MYStartup.

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MoneyMatch to start Series B fundraising after winning digital banking licence

New Straits Times

New Straits Times

2022-05-06

KUALA LUMPUR: MoneyMatch Sdn Bhd is launching its Series B fundraising round following the recent successful digital banking licence application. The fintech startup was one of the consortium participants led by KAF Investment Bank Bhd, which was recently selected to receive a digital banking licence in Malaysia under the Islamic Financial Services Act 2013 (IFSA). MoneyMatch announced in July 2021 that it was applying for a digital banking licence after closing its RM18.5 million Series A investment round and its expansion plans. The company is already in talks with several local and regional institutional investors, investment banks and venture capital funds and will close the round by this year. It plans to ramp up its investments in leading-edge technologies, upgraded financial infrastructure and business development scale-up efforts to various new countries in the region by next year. MoneyMatch chief executive officer Adrian Yap said the company believed the consortium has the right resources to serve the underserved micro, small and medium enterprise (MSME) segments that have been neglected by the incumbents better and help them realise their ambitions and goals.

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Malaysian fintech MoneyMatch secures US$4.4mil Series A with KAF Investment Bank as lead investor

Digital News Asia

Digital News Asia

2021-07-09

Malaysian fintech MoneyMatch Sdn Bhd has announced a successful closing of its Series A round totaling US$4.43 million (RM18.5 million) over two tranches, initially led by Cradle Seed Ventures in 2019 and now closed with KAF Investment Bank leading the second tranche earlier this year, subject to final regulatory approval. As part of the fundraising round, MoneyMatch also secured a venture debt facility under Malaysia Debt Ventures’ Technology Startups Funding Relief Facility. Adrian Yap, the CEO of MoneyMatch, said, “We are incredibly excited to bring KAF Investment Bank into our family and with their strong reputation in the financial markets and investment circles; this further validates our disruptive business model as we look to scale up now with new fintech product launches and overseas expansion in the coming months. We are also really excited with the upcoming opportunities with digital banking opening up and will be working together with our investors to grow in this space.” Founded in 2015 by former bankers Adrian and Naysan Munusamy, MoneyMatch was amongst the first batch of fintech startups enrolled into Bank Negara Malaysia’s Financial Technology Regulatory Sandbox in 2017, and successfully graduated to become a full licensee under the Money Services Business Act in 2019. Since then, MoneyMatch has scaled to serve over twenty thousand individuals and over three thousand small and medium enterprises (SMEs) in Malaysia whilst also expanding operations to Australia and Brunei, with total transaction volumes exceeding US$550 million (RM2.3 billion) covering cross border trade payments and individual remittances.

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MoneyMatch gets nod for digital remittance services

The Star

The Star

2019-04-08

KUALA LUMPUR: MoneyMatch has received an apporval in principle for a Class B remittance licence from Bank Negara Malaysia to carry out digital remittancce services for business and individuals. The fintech startup said on Monday it was among the first approved to conduct eKYC (electronic know-your-cust...)

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MoneyMatch Announced As First To Graduate BNM’s Sandbox at MyFintechWeek

Fintech News Malaysia

Fintech News Malaysia

2019-06-18

...This was announced during a session titled “Thinking Inside the Sandbox” at MyFintech Week 2019 jointly organised by Bank Negara Malaysia and MDEC. This announcement follows the news of MoneyMatch’s approval in principle for a class-b remittance license just last April...

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MoneyMatch Sdn. Bhd (Co. Reg. No 201501008276 (1133611-P)) is regulated by Central Bank (licensee providing digital services) under MY Licence Serial Number 00544 in Malaysia.
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