MoneyHero’s US$8 million gambit: Bold move or blunder?

FOR years, personal finance platform MoneyHero Group and rival MoneySmart operated in the same markets, even as other competitors came and went.

Then, last month, Nasdaq-listed MoneyHero made a controversial US$8 million non-binding offer to wholly purchase Singapore-headquartered MoneySmart.

Aside from being perceived as a lowball offer – given MoneySmart’s financial performance in 2023 – the way it was presented also raised a few eyebrows.