KL-based fintech startup iMoney boosts C-suite with new appointments
By Digital News Asia September 18, 2015
- Having raised US$6mil so far, it’s gearing up for another round
- Says user base grew 170% YoY, monthly revenue growing 5x since start of 2015
KUALA Lumpur-based financial services technology (fintech) startup Intelligent Money Sdn Bhd (iMoney) has announced a new leadership team to support and extend its position in South-East Asia ahead of its next fund-raising round.
These new appointments aim to strengthen the core functions within the group including, finance, marketing, and in-country operations, the company said in a statement.
Cofounder Bruno Araujo (pic above), currently chief revenue officer, will take on the role of chief operating officer.
He has more than 10 years of experience in the financial services industry in Malaysia and the United Kingdom, and has worked in institutions such as CIMB, RBS and Citibank, iMoney said in its statement. Prior to joining iMoney, he was the head of product at CIMB Bank in Malaysia.
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Moving forward, Araujo will head the overall commercial and performance marketing functions as well as oversee country growth in Indonesia, the Philippines and Singapore.
Mitul Lakhani has been appointed chief financial officer, and will be responsible for iMoney’s fund-raising initiatives, amongst other duties.
He has over 10 years of experience in the investment banking industry, and started his career at CIBC World Markets in London, focusing on corporate finance and M&As (mergers and acquisitions) in the gaming, lodging and leisure sectors.
In 2006, he went on to join Churchill Capital International, a boutique advisory and investment firm.
Prior to joining iMoney, he spent over four years as the chief financial officer of Tune Hotels Group in Kuala Lumpur.
Amanda Woo has been appointed chief marketing officer. She has over 15 years of regional marketing and brand management experience with multinational companies in Malaysia and Singapore, such as AirAsia Group, Tune Hotels Group, L’Oreal Malaysia and Moet-Hennessy.
She will be responsible for driving brand marketing, consumer engagement, and the positioning of the iMoney brand in Asia.
Meanwhile, Chris Antonius joins iMoney as managing director of its Indonesian property, www.aturduit.com.
He was previously he was chief executive officer at PT Excite Indonesia, and prior to that, managing director of Rumah.com and JobStreet Indonesia.
“I am extremely pleased with the new appointments and the rapid progress we have made in 2015 following our Series B investment last year,” said iMoney group chief executive officer Lee Ching Wei (pic).
“The calibre of the new team reflects the market-leadership position of the group in our markets as well as the huge growth opportunity still ahead of us,” he added.
As of August 2015, nearly 11 million unique users came to iMoney Group websites for accessible tools, market comparison, and bank application services, the company said in its statement.
Its user base is growing by more than 170% year over year, while its monthly revenue has grown five times since the start of 2015, it claimed, without giving actual figures.
“Following our Series B investment in October 2014, we have worked closely with our investor iSelect to leverage its technology, business model and expertise, and bring it to bear on our South-East Asian markets,” said Araujo.
“The results have been very pleasing so far – we have grown monthly revenue [by fivefold] since the start of the year, and have launched new credit card and broadband verticals that are performing considerably ahead of our expectations,” he declared.
iMoney, founded in 2012, has raised over US$6 million in venture capital funding.
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