Australian financial comparison firm Credit Card Compare has snapped up Finty, a Singaporean rewards-based financial marketplace, for an undisclosed amount.
Finty, launched in April last year, offers cash rewards based on revenue sharing. The platform leverages a predictive model to calculate the cash rewards value for customers who are applying for credit cards and personal loans from different bank partners.
Finty co-founder and managing director Kwok Zhong Li said: “Finty makes financial decisions simple, enjoyable, and rewarding. It’s the first financial marketplace in Singapore to offer cash rewards based on a revenue sharing model.”
Said to be the largest dedicated credit card comparison service in Australia, Credit Card Compare platform has been used by more than two million consumers to compare over 200 cards.
Credit Card Compare and Finty will utilise each market’s individual talents and networks for providing customers with access to the ‘best’ financial information.
Finty said that the deal would enable it to strengthen operations in Singapore and expand into additional markets in Asia.
“Together with CCC, we now have more resources, manpower and expertise to thrive in Singapore while making a strong entrance into other countries,” Li noted.