Singapore’s leading online personal finance portal, MoneySmart.sg, today announced that they are acquiring KreditAja.com, the Indonesian-based personal finance portal, to expand its footprint into Indonesia.
The acquisition brings together two experienced teams and a complimentary approach to technology, search and content. The KreditAja team is led by CEO Rob Barnes, who brings his extensive experience from Moneysupermarket.com as the
former Head of Commerical, and CTO Jagannathan Janagyraman, former Head of Engineering at PropertyGuru.
“Moneysmart is already a well known brand in Singapore and bringing the two businesses together gives us a fantastic platform to move forward quickly with our development plans in Indonesia. The teams in Singapore and Jakarta are already working closely together and sharing their expertise in technology, content and search marketing. Watch this space, as we will be introducing some amazing new products and services in the coming months” said Rob.
Founded over a year ago, KreditAja.com has over a million visitors per year and has 11 employees in their Indonesian office.
Both companies have strong relationships with major financial institutions in the region and significant partnerships in place. KreditAja.com currently powers the auto-loan comparison for Berniaga, the largest e-commerce marketplace in Indonesia and also have a number of similar sized partnerships due for launch in early 2015.
In the coming year, KreditAja is looking to aggressively grow their product range to include insurance and other banking products to provide a comprehensive suite for Indonesian consumers to compare.
Together with MoneySmart CEO Vinod Nair, this new management team, which will be based in Singapore, will look to drive significant growth in traffic and revenue in both markets.
“Indonesia is a huge market and has massive growth potential which compliments our number one position in Singapore. Our complimentary strengths will enable us to rapidly deliver on our product development and acquisition plans“ said Vinod.
MoneySmart.sg was founded in 2009 with the aim of helping Singaporeans make smarter financial decisions. Today, MoneySmart.sg is Singapore’s leading personal finance portal helping thousands of consumers compare loans, insurance and credit cards easily online. For more information on MoneySmart visit www.moneysmart.sg