MoneyHero Group sees next 50M engagements from PH

Nasdaq-listed digital insurance brokerage provider MoneyHero Limited is looking to scale its operations in the Philippines, as the company expects the next 50 million engagements coming from the country with the recent opening of its office through its local brand Moneymax.

According to MoneyHero chief executive officer Rohith Murthy, the Philippines is the company’s “scale market,” given the country’s 120 million population which it seeks to penetrate moving forward.

“The Philippines is a market where we will truly scale, because all said and done, the next 50 million people who are going to come and engage with us is going to come from this market,” he said in an interview in Taguig City.

“It’s an attractive market for us for a variety of reasons. I mean, number one, it’s a very digitally savvy market. It’s an online always market, mobile first market. It ticks all the boxes,” he added.

The company reported $18.022 million in total revenues during the second quarter of the year, with the Philippines accounting for $1.697 million.

The country ended the first half of the year with 5.9 million registered users or 68% of the group total, after it recorded 1.3 million unique users and 4.1 million in total traffic during the second quarter.

“This is a market we will invest in, and we will continue to invest in, because it’s not only our scale market, but it’s also a market where we are able to really tap into a variety of things in terms of consumer behavior, in terms of education,” Murthy said.

MoneyHero serves as a personal finance aggregation and comparison platform, with operations in Singapore, Hong Kong, and Taiwan. Its brand portfolio includes platforms MoneyHero, SingSaver, Money101, Moneymax, Seedly, and Creatory.

It just recently opened its Philippine office in Bonifacio Global City, providing users access to over 20 credit card products from leading banks, and operating a licensed insurance brokerage. It reported over a million applications in 2024.

“With our BGC office, which reflects our long-term commitment to the country - deepening partnerships with banks and insurers, expanding services beyond Metro Manila into Visayas and Mindanao, and giving Filipinos equal access to trusted, transparent financial products,” Murthy said.

Moving forward, Murthy said the company is looking to continue growing its presence in the country, and expanding its services such as the possibility of launching a service that will allow Filipino users to secure a credit report and credit health check for free.

Dubbed as the Credit Hero Club, the service is now being tested in Hong Kong, and is scheduled to be launched in the Philippines “first thing next year,” in partnership with a private credit reference agency.

“That's why the Philippines is the scale market for us. Whether it's anything we do on AI, whether anything we do with the Credit Hero Club in Hong Kong, great markets for us to innovate, launch, and then we take that and scale it in the Philippines,” Murthy said. — JMA, GMA Integrated News