The new management team based in Singapore will look to drive growth in traffic and revenue in both markets
Singapore-based personal finance portal MoneySmart.sg today announced that it has acquired KreditAja.com, the Indonesian counterpart for an undisclosed sum, to expand its footprints into Indonesia.
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.
“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. We will be introducing some amazing new products and services in the coming months,” said Rob Barnes, CEO, KreditAja.
The acquisition brings two teams together and a complimentary approach to technology, search and content. Both companies have relationships with major financial institutions in the region. KreditAja.com currently powers the auto-loan comparison for Berniaga, the e-commerce marketplace in Indonesia and also has similar sized partnerships due for launch in early 2015.
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“Indonesia is a huge market and has a 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 Nair.
In the coming year, KreditAja is looking to aggressively grow its product range to include insurance and other banking products to provide a comprehensive suite for Indonesian consumers to compare.
Image Credits: mindscanner/ Shutterstock
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