iMoney receives RM500k grant under Cradle Investment Programme

Thu, Jun 27, 2013: Malaysia’s financial comparison website iMoney.my received a huge boost to its stature as “the people’s financial portal” with confirmation of funding support of RM500,000 from the Cradle Investment Programme (“CIP”) – a Government initiative offered by Cradle Fund Sdn Bhd under the Ministry of Finance Malaysia to support local technology entrepreneurs.

“We would like to thank Cradle for the immense support they’ve shown us.” said Ching. “For iMoney, this is an absolute privilege. When we first created iMoney, it was mainly out of personal frustration – that there wasn’t a public portal where consumers could easily go online, compare information such as interest rates, and apply for loans and financial products using the power of the Internet”.

Nazrin Hassan, Chief Executive Office of Cradle Fund Sdn Bhd said, “iMoney showed us an exciting possibility. They’ve set out to challenge the way consumer banking is conducted today, and drive a new paradigm in the way consumers deal with banks. We see huge potential in iMoney and we’re really excited to be contributing to their growth plans. ”

“We started off with just a team of three, sharing a collective vision to simplify financial matters for consumers,” Ching added. “And now we are a company of close to 40 staff and being backed by Cradle, all in the space of about a year. Cradle’s support has now given us greater incentives to continue pursuing our objective – which is to be the number 1 destination for financial matters for people across the South East Asia region”.

Author: VSDaily Editor

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