MoneySmart Group Reports Strong H1 2023 Performance and eyes 2025 IPO.

SINGAPORE: MoneySmart Group, Southeast Asia's leading personal finance group comprising two dynamic brands, MoneySmart and Bubblegum, announces remarkable growth and exciting future prospects following a strong H1 2023 financial performance despite challenging prevailing market conditions.

The Group saw H1 2023 revenue growth surge to 37% whilst achieving positive operating cash flow.

As part of future growth and innovation plans, investments into customer-focused initiatives to enhance customer experience will be prioritised.

With a continued commitment to sustainable growth, the company maintains its plans for an IPO within the next two years.

The Group will also be pursuing a pre-IPO funding round to facilitate its international expansion.

Continued Revenue Growth and Robust Financial Performance

Building on the success of 2022, marked by a significant revenue increase of 27%, MoneySmart Group continued its upward trajectory in H1 2023. Overall revenue growth surged to an impressive 37%, outpacing industry peers in the region. During this period, MoneySmart Group experienced record-breaking months of revenue growth, which culminated in revenues of SGD24 million. This strong first-half growth was bolstered by a 53% growth in margins, resulting in increased profitability.

MoneySmart Group also reached a major financial milestone in H1 2023 by successfully generating positive operating cash flow.

Raymond Ong, Chief Financial Officer, MoneySmart Group said, "Our strong first-half performance reflects our commitment to financial sustainability and operational excellence. This growth underscores our ability to execute on strategic initiatives and positions us favourably for the future. We are excited about the path ahead and remain focused on delivering value to our stakeholders while maintaining our financial strength and efficiency."

Investing in Future Growth and Innovation

As part of the company's ongoing mission to push the boundaries of how customers discover and purchase financial products, MoneySmart Group will...