CompareAsia Group Capital Limited’s fintech MoneyHero and Bridgetown Holdings announced today that they have entered into a business combination agreement.
If approved, upon closing MoneyHero shares and warrants are expected to trade on the Nasdaq under the ticker symbols MNY and MNYWW.
Bridgetown is backed by Richard Li and Peter Thiel.
The transaction values MoneyHero at a pre-money enterprise value of $200 million and an equity value of approximately $198 million. The combined company will have a post-transaction enterprise value of $342 million assuming no redemptions.
All MoneyHero existing shareholders, including PCCW, FWD, and Goldman Sachs will roll 100% of their equity into the combined company.
Founded in 2014 and dual-headquartered in Singapore and Hong Kong, MoneyHero Group, formerly known as Hyphen Group or CompareAsia Group, is a personal finance aggregation and comparison company in Greater Southeast Asia, operating in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia.
The deal is expected to close in the third or fourth quarter of 2023. Read more.
