iMoney

iMoney is a Malaysian personal-finance company and digital comparison platform focused on helping consumers evaluate and apply for financial products. Its coverage has included savings accounts, credit cards, home loans and other personal-finance products. The platform was established in 2012 by Lee Ching Wei after he encountered the difficulty of comparing banking products through conventional bank-by-bank research. The experience exposed a broader consumer problem: financial products were presented with complex terminology, inconsistent information and application processes that were difficult to compare directly. iMoney was created to make this process more accessible through online comparison, explanatory content, calculators and application pathways. The business began as iMoney.my in Malaysia and received early backing from angel investors. In 2013 it raised seed investment from Asia Venture Group, obtained support from Malaysia's Cradle Fund and later secured additional venture-capital funding involving Jungle Ventures and 500 Startups. The company also developed relationships with banks, government-linked bodies, fintech companies and other financial-services partners. These partnerships supported its comparison marketplace and its broader financial-literacy objectives. iMoney expanded beyond basic comparison tables by introducing tools intended to help consumers make more informed decisions. In 2014 it released a mobile home-loan calculator that enabled users to estimate borrowing costs and begin a home-loan application through the application. In 2017 it launched iMoney CreditScore in Malaysia, allowing consumers to check their credit score online without charge. The service used credit-information capabilities supplied by Experian, formerly associated with RAM Credit Information in Malaysia. This product broadened iMoney's role from lead generation and comparison toward consumer education and credit awareness. The company also pursued regional expansion. In 2013 it entered a collaboration with MoneyTree, a financial-literacy provider. Its Indonesian operation was represented by Aturduit, where Chris Antonius served as managing director from 2015. iMoney's stated partner network has included more than 50 financial-services organizations, including banks, government bodies and fintech companies. The platform's positioning has therefore combined financial-product comparison, lead generation, educational content and digital tools designed to simplify applications. Ownership changed materially during the second half of the 2010s. iSelect, an Australian Securities Exchange-listed financial-comparison company, invested in iMoney in 2014 and announced the acquisition of a majority stake in 2017. In 2020, amid the financial effects of the COVID-19 pandemic, iSelect announced that it would exit the investment and sold its stake to one of iMoney's founders. By the end of August 2020, Malaysian fintech company JurisTech announced that it had acquired iMoney for an undisclosed amount. JurisTech provides software and technology services to banks, financial institutions, insurers and telecommunications companies in Malaysia, Southeast Asia and other markets. Under JurisTech ownership, iMoney remains associated with consumer-facing financial comparison while gaining access to a parent company specializing in financial-technology infrastructure. The acquisition was presented as a way to improve product matching, the consumer journey and the ease of applying for financial products. iMoney is headquartered in Bangsar South, Kuala Lumpur, at the same location as JurisTech. Its principal identity is that of a Malaysian digital personal-finance platform rather than a bank, lender or investment manager.

iMoney originated from Lee Ching Wei's attempt to compare savings accounts and credit cards in Malaysia after leaving an investment-banking role in Melbourne in early 2012. He found that comparing offerings required visiting multiple banks and interpreting substantial financial jargon. This experience led to the concept of an online service that would organize financial-product information and help consumers apply through a more straightforward process. iMoney.my was established in June 2012 with angel investment. The company obtained its first significant external backing in 2013, when Asia Venture Group provided US$500,000 in seed funding. It also received a RM500,000 grant from Cradle Fund, an agency associated with Malaysia's Ministry of Finance, and later raised US$2 million from venture investors including Jungle Ventures and 500 Startups. In November of that year, iMoney entered a regional collaboration with MoneyTree, a financial-literacy provider. These developments reflected an ambition to combine commercial comparison services with consumer education. In 2014, iMoney expanded its digital tooling by releasing a mobile home-loan calculator. The application was designed to help users estimate borrowing requirements and move toward direct home-loan applications. In October, Australian financial-comparison company iSelect announced a US$4 million investment. The relationship subsequently deepened: in October 2017, iSelect announced that it had acquired a majority stake in iMoney. During 2015, the company reorganized several senior roles. Co-founder Bruno Araujo moved from Chief Revenue Officer to Chief Operations Officer. Mitul Lakhani joined as Chief Financial Officer, Amanda Woo became Chief Marketing Officer and Chris Antonius joined as managing director of iMoney's Indonesian property, Aturduit. The appointments supported the company's expansion across operating, financial, marketing and regional functions. A significant product development arrived in 2017 with the launch of iMoney CreditScore in Malaysia. The service gave consumers free online access to their credit score and used credit-information capabilities supplied by Experian, previously known in the local context as RAM Credit Information. The offering extended iMoney's role beyond comparing products by giving users a tool relevant to credit awareness and financial decision-making. In 2018, Mitul Lakhani became Group Chief Executive Officer, while Lee Ching Wei moved into the Chief Innovation Officer position. The leadership change separated day-to-day group management from the founder's innovation remit. In 2020, iSelect announced that it would exit iMoney, referring to the financial impact of COVID-19. Its stake was sold to one of iMoney's founders. By the end of August 2020, JurisTech announced that it had acquired iMoney for an undisclosed sum. JurisTech is a Malaysian fintech company providing software to banks, financial institutions, insurance providers and telecommunications companies in Malaysia, Southeast Asia and other markets. The acquisition linked iMoney's consumer-facing comparison platform with JurisTech's enterprise financial-technology capabilities. Lee Ching Wei said the combination could improve product matching and simplify the customer journey for people applying for financial products. The company is headquartered in Bangsar South, Kuala Lumpur, at the same venue as JurisTech. Its business has been described as serving consumers through a comparison platform and financial-literacy tools, supported by relationships with more than 50 financial-services partners, including banks, public-sector bodies and fintech companies. Its principal historical markets have been Malaysia and Indonesia, with Malaysia remaining the core market documented in the available reference material.

1. 2020JurisTech acquires iMoney

   JurisTech acquired iMoney after iSelect exited its investment during the COVID-19 period.

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2. 2018Group leadership transition

   Mitul Lakhani became Group CEO and founder Lee Ching Wei became Chief Innovation Officer.

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3. 2017iSelect becomes majority owner

   iSelect announced the acquisition of a majority stake in iMoney.

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4. 2017iMoney CreditScore launches

   iMoney launched a free online credit-score service in Malaysia using Experian-powered credit information.

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5. 2014Home-loan calculator launched

   The company introduced a mobile home-loan calculator and announced investment from iSelect.

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6. 2013Seed funding and startup support

   iMoney received seed funding from Asia Venture Group, a Cradle Fund grant and additional venture investment.

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7. 2012iMoney.my is established

   Lee Ching Wei founded iMoney.my in Malaysia after identifying the difficulty consumers faced when comparing banking products.

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A consumer-focused financial comparison and education platform designed to make personal-finance products easier to understand, compare and apply for.

• Financial-product comparison platformPersonal finance2012

  iMoney's core platform organizes information about personal financial products so users can compare features and begin applications. Its documented scope includes credit cards, savings accounts and home loans. The service is intended to reduce the need for consumers to research each provider separately and to make financial terminology and product differences easier to understand.

• Home-loan calculatorFinancial calculator2014

  Introduced as a mobile application in 2014, iMoney's home-loan calculator helped users estimate home-loan requirements and costs before moving toward an application. It represented an expansion from static comparison content into interactive tools supporting a major household-finance decision.

• iMoney CreditScoreCredit-information tool2017

  Launched in Malaysia in 2017, iMoney CreditScore allowed consumers to check their credit score online at no charge. The service was powered by Experian, formerly associated with RAM Credit Information, and added credit awareness to iMoney's comparison and financial-literacy offering.

• 2020JurisTech acquisitionM&A

  iSelect decided to exit its investment during the financial disruption associated with COVID-19.

  What changed. JurisTech acquired iMoney for an undisclosed amount after iSelect's exit.

  Aftermath. iMoney became part of a Malaysian fintech group with capabilities in software for banks, financial institutions, insurers and telecommunications companies. The acquisition was intended to improve product matching and simplify the application journey.

  Acquisition amount. Undisclosed (August 2020)

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• 2017Launches iMoney CreditScoreProduct launch

  iMoney sought to broaden its consumer-finance role beyond product comparison and provide tools supporting financial literacy.

  What changed. The company launched a free online credit-score service in Malaysia using credit-information capabilities supplied by Experian.

  Aftermath. The launch added credit awareness and personal-finance education to iMoney's consumer offering.

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• 2014Accepts strategic investment from iSelectOther

  iMoney was expanding its comparison platform and regional ambitions after its initial funding period.

  What changed. iMoney announced a US$4 million investment from iSelect, an Australian Securities Exchange-listed financial-comparison company.

  Aftermath. The investment developed into a broader ownership relationship, with iSelect later acquiring a majority stake in iMoney.

  Investment amount. US$4 million (October 2014)

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• 2020iSelect exits its iMoney investment

  iSelect announced that it would leave the investment, citing the financial effects of the COVID-19 pandemic, and sold its stake to one of iMoney's founders.

  M&AOther
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• 2020JurisTech acquires iMoney

  Malaysian fintech company JurisTech announced the acquisition of iMoney for an undisclosed amount, bringing the comparison platform into a financial-technology software group.

  M&A
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• 2018Mitul Lakhani becomes Group CEO

  Mitul Lakhani was elevated to Group Chief Executive Officer, while founder Lee Ching Wei took the Chief Innovation Officer role.

  Leadership change
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• 2017iSelect acquires a majority stake in iMoney

  iSelect announced that it had acquired majority ownership of iMoney, strengthening the relationship between the two financial-comparison businesses.

  M&A
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• 2017iMoney launches free online credit-score access

  iMoney introduced iMoney CreditScore in Malaysia, with credit-information services powered by Experian.

  Product launch
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• 2015iMoney changes senior leadership responsibilities

  Bruno Araujo moved from chief revenue officer to chief operating officer, while Mitul Lakhani, Amanda Woo and Chris Antonius assumed senior finance, marketing and Indonesian-market roles.

  Leadership change
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• 2014iMoney launches a home-loan calculator application

  The company released a mobile tool intended to help users estimate home-loan costs and begin applications digitally.

  Product launch
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• 2014iSelect invests in iMoney

  Australian comparison company iSelect announced a US$4 million investment in iMoney.

  M&A
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• 2013iMoney receives early venture funding and government-backed startup support

  The company received seed funding from Asia Venture Group, a grant from Malaysia's Cradle Fund and further venture-capital investment involving Jungle Ventures and 500 Startups.

  Other
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• 2013iMoney enters a regional collaboration with MoneyTree

  iMoney formed a regional relationship with financial-literacy provider MoneyTree to support its consumer-education ambitions.

  Other
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1. IMoney