MatchMove acquires strategic stake in local digital lender MoolahSense

Source: Matchmove

MatchMove, the award winning ‘Bank-As-A-Service’ platform has closed an agreement with licensed P2P lender, MoolahSense, to acquire a strategic stake with immediate effect.

MoolahSense is one of the leading data-driven peer-to-peer lending platforms focused on SME lending, and operates under a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).

This acquisition will enable MatchMove to further strengthen its Spend.Send.Lend™ capability and provide access to financing to SMEs within its ecosystem. Consequently, MoolahSense will be able to leverage MatchMove’s integrated regional partner network to tap new segments and extend its capability to fund creditworthy SMEs across Asia.

Access to credit remains a key challenge for SMEs today across the region. While SMEs remain the backbone of the economy, many struggle to achieve scale and optimization, primarily due to lack of credit and funding options from larger, established lenders such as banks. This strategic combination of MatchMove and MoolahSense will directly address this fundamental market demand and facilitate SME development using digital methods of credit evaluation and capital distribution.

Shailesh Naik, Founder and Group CEO of MatchMove commented, “This combination makes perfect sense as we see access to funding as a key enabler for many of our growing clients. With this partnership, we will be able to leverage on MoolahSense’s capability in credit origination and scoring to serve our clients better. Furthermore, there is a natural strategic convergence between our two digital platforms to go-to-market together as a combined offering.” Shailesh will join the Board of Directors of MoolahSense.

Moving forward, MatchMove will be able to originate potential issuers and lenders from its client ecosystem, further enhancing its essential ‘banking-as-a-service’ proposition. MoolahSense will in turn grow its loan portfolio on the back of accessing new segments and structuring new product capabilities.

“We are excited to partner with MatchMove to launch a risk-mitigated "on-tap" credit solution for curated digital ecosystems that fulfills the working capital needs of SMEs. We shall be tuning our "Lending-in-a-Box" into MatchMove’s vision of "Banking-in-any-App" to realize the dreams of many SMEs and reward the decisions of lenders,” said Lawrence Yong, CEO of MoolahSense.

This investment is aligned to MatchMove’s direction to make strategic acquisitions in adjacent and complementary businesses. “This deal will enable us to unlock synergies and further build product and market depth within lending, creating greater utility for and building even longer-term relationships with our clients,” said Nisha Paramjothi, SVP Investments.

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