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ASX-listed company iSELECT becomes majority shareholder in Intelligent Money Sdn Bhd (iMoney)

Excerpt from ‘iSelect acquires controlling stake in iMoney’ by Digital News Asia

ISELECT, the ASX listed comparison company, announced today that it has increased its shareholding in Intelligent Money Sdn Bhd (iMoney) positioning iSelect as the majority and single largest shareholder in iMoney.

iSelect initially invested in iMoney in 2014 and has continued to provide financial, operational and technical support since its initial investment, helping the company achieve average annual revenue growth of 80% over the past three years and establish a sustainable and scalable customer acquisition and conversion platform for future growth.

iMoney co-founder and chief executive officer, Lee Ching Wei (pic) who is also a DNA Digerati50 commented, “We are extremely delighted that iSelect is increasing its interest and commitment in iMoney. iMoney is entering a particularly exciting growth stage across all its markets and with the addition of iSelect’s systems, technology and wider group resources, we are confident our growth trajectory can be further accelerated as we continue to provide a world-class service to our consumers and providers. The increased financial and operational commitment by iSelect is a testament to the success of the business to date driven by the hard work of the employees of iMoney and the support of our shareholders.” Read the full article here