MoneyMatch is a Malaysian FinTech company specializing in cross-border payments solution. The company launched operations in 2017, serving only individuals via its internally built mobile app under the purview of Malaysia’s Central Bank FinTech Regulatory Sandbox. In 2019, MoneyMatch graduated from said sandbox and obtained its Money Services Business License thereafter.  

Today, MoneyMatch primarily serves the B2B segment which focus on the underserved SMEs who are looking to make international payments for imported goods and services, as well as foreign intercompany transfers. MoneyMatch’s cross border payments platform provides access to over 110 destination countries and supports over 40 currencies, with a great variety in payout methods (bank account, e-wallets and cash pickups, subject to type of currency and destination).


MoneyMatch’s Global Coverage

(Currently covers 110+ destinations, across 40+ currencies)

With technology, MoneyMatch’s proprietary payment network operates with efficiency by leveraging blockchain and API connectivity, as well as being data-driven alongside implementing machine learning algorithms. MoneyMatch has proven solution credibility within several markets such as Malaysia, Brunei and Australia with over MYR 4.4 billion in total transacted volume over the years and over 90% of its revenue is contributed by its business and enterprise customers.

Throughout the years operating within the B2B space, MoneyMatch has developed an expertise in solving the pain points faced by SMEs. With constant innovation, MoneyMatch has significantly improved the way financial services are being offered to SMEs, making digital adoption within the finance industry more accessible.


MoneyMatch was founded by Adrian and Naysan, who started their careers in the banking industry with exposure to the FX treasury and trade market, and even spent significant years working overseas. Their background undoubtedly led them to realize how exorbitant overseas transfer fees add up to and they soon discovered the market demand for digital cross-border payment solutions, especially within the ASEAN region.

With that, Adrian and Naysan embarked on this MoneyMatch journey with the main goal to disrupt the traditional finance industry, initially focused on addressing pain points faced by individuals seeking to send money abroad. MoneyMatch first launched its mobile app catered to individuals (C2C) but soon unearthed the extensive challenges faced by SMEs and more crucially, was delighted by its SME customers that kept coming back for MoneyMatch’s payment services after the first use.

As such, the fundamental problem which MoneyMatch seeks to solve is simply the lack of access to business-oriented financial products and services. This problem is attributed to the absence of digital adoption as traditional banks who dominate the finance industry tend to adopt legacy systems which may not adapt well to change. Due to the complexity and friction faced by the bank to serve the SMEs, it leaves banks no choice but to favor their high profile customers (i.e. the large corporations transacting in the billions and trillions) and neglecting the micro, small and medium business by only providing non-negotiable counter rates and limited payout methods.

It is apparent that serving business customers come with a different set of challenges. Among the challenges faced are stringent onboarding and compliance checks, lack of customer service and digital agility to process more complex permutations, as well as overall operational inefficiency.

Therefore, MoneyMatch’s in-house built and business-curated solutions are developed with the above problems in mind.


MoneyMatch’s core solution is its proprietary payment platform which provides overseas payments that are faster, cheaper and more convenient. Its platform is internally built and is essentially developed on an ecosystem consisting of host-to-host partner rails located across the globe, eliminating redundant layers and ensuring the most efficient payment journey.

MoneyMatch’s capabilities in providing the simple solution of being fast, cheap and convenient stems from creating streamlined operations within its business, all with efficiency as its foundation. An example of this is MoneyMatch’s utilization of machine learning algorithms based on historical data to improve internal operational efficiency such as optimizing sales and marketing efforts, automating various compliance functions and improving the company’s dynamic order routing system. This has allowed MoneyMatch to scale its business without incurring unnecessary costs, ultimately benefiting its users.

Therefore, MoneyMatch’s solution is simply to provide easy access to financial services and financial literacy, especially to micro, small and medium enterprises (SMEs) who have been underserved by traditional banks.


With cross-border remittances being the bread and butter of MoneyMatch, its product lines can be categorized into 3 separate offerings, catered differently to the relevant customer segments.


(1) Pulse, for businesses (B2B)

Pulse is a multi-product platform exclusively developed for MoneyMatch’s business customers. What started solely as a remittance platform offering users a simpler way to send money abroad with the best-in-market FX rates and transfer fees, soon grew into an agile platform with advanced features and other SME-inspired products, all integrated within a single platform.

Pulse is utilized by businesses typically for -

  • supplier payments for imported goods and services;
  • salary payments for international payroll; and
  • managing inter-company & franchise expenses.

What uniquely sets MoneyMatch’s product apart is its B2B market niche. Feature enhancement and product development are constantly being made to Pulse with a focus on improving SME functionalities.

Some of the data driven features implemented thus far include -

  • MoneyMatch bulk upload feature;
  • historical FX tracking and personalized FX rate alert;
  • secured data storage capabilities; and
  • multilingual option (English, Malay, Mandarin, Tamil).

Additionally, via strategic partnerships, MoneyMatch has also launched and implemented within the same platform SME-curated products such as -

  • insurances (e.g. maritime, fire, warehouse, etc); and
  • invoice financing and microloans.

There are several other business products currently being planned for development, as these are part and parcel of MoneyMatch’s goal to be the leading B2B solutions provider via offering end-to-end SME-focused solutions.

(2) RemitFX & BankFX, for enterprises and banks (B2B2C)

RemitFX & BankFX are available to enterprise and bank customers globally either via API connectivity or via its web platform. These platforms adopt a payment aggregator model, enabling enterprises and banks to leverage MoneyMatch’s proprietary payment network which consist of extensive payment corridors with disbursement capabilities covering 110+ destination countries in 40+ currencies.

Enterprises and banks typically utilize this MoneyMatch product to strategically optimize their payment corridors for the benefit of their respective customers. This product also offers digitalisation enablement to the more traditional operators who wish to adopt technology within their own payment systems.

MoneyMatch constantly works to establish direct connections to its destination countries to minimize payment latency and maximize transaction transparency. A good example of this is MoneyMatch’s direct API connection to Malaysia’s DuitNow payment service, enabling its global enterprise customers to carry out almost-instant ringgit (MYR) disbursements anytime (24/7 availability).

(3) MoneyMatch Transfer, for individuals (C2C)

MoneyMatch Transfer is a mobile application developed exclusively for individual customers. It is available on iOS and Android, allowing individuals to send money abroad seamlessly upon being digitally onboarded via electronic Know-Your-Customer at their convenience (available 24/7). This is typically utilized by expats to transfer money overseas for personal savings, education related payments, living expenses and outward family allowances.



MoneyMatch’s financial growth and traction is owed to its diversified customer base that has proven to be resilient as it minimizes industry focused concentration risk. MoneyMatch’s top performing customers are within the e-commerce segment that flourished during the pandemic and continue to thrive further in this endemic phase.

Since inception to-date, MoneyMatch has aggregated Group Gross Merchandise Volumes (GMV) of MYR4.4 billion and Group Revenue of MYR19 million.  MoneyMatch has proven its continued strong revenue growth by hitting new records every year, as the year-to-date Group Revenue was MYR5.4 million (as of Aug ‘22) which has almost surpassed the whole of 2021 (full year revenue of MYR 5.7m).

Financial Projection

As 2023 looms, MoneyMatch’s focus will be to expand its remittance rails in other regions for cost optimization and creating more B2B-focused solutions, primarily to further diversify and expand its total addressable market to drive revenue growth. MoneyMatch's annual revenue is projected to reach RM 8.8 mil in FY2022 and is expecting a positive Profit After Tax (PAT) in year 2023. This is part of its bigger plans to initiate the ACE capital market listing exercise by 2025, with a target to be listed in 2026.

Key Milestones

MoneyMatch prides itself with its achievements over the years.

Recently, MoneyMatch was also awarded the Islamic Digital Bank License via the KAF Digital Bank Consortium where MoneyMatch will be developing some of the key components of the digibank infrastructure, mostly with respect to customer onboarding, remittance and cross-border payments network and compliance screening system (subject to relevant approval). This award is an affirmation of MoneyMatchs’ tech capability, skills and experience as the application for this license involves thorough screening of all the relevant partners' tech stack and expected deliverables.


While MoneyMatch serves all customer segments, it has grown to serve businesses as its core focus and strategic niche.


Businesses (B2X)

MoneyMatch's target customers consist of early stage businesses that are heavily underserved, typically micro and small-medium enterprises (SMEs) diversified across various industries.

Prior to the pandemic, over 30% of MoneyMatch’s business customers were businesses operating within the hospitality and travel industry. Since then, MoneyMatch has onboarded businesses from a wide range of  industries especially e-commerce players whose businesses were heavily fueled by the multiple lockdowns as demands of online purchases skyrocketed.

The following shows MoneyMatch’s diversified industry profile based on its business volume from 2019 to 2022. The diversification across different business industries have proven to be resilient and lucrative.

MoneyMatch has come to realize that its business users are more sticky as the challenges they face are more unique which usually requires extensive offline to online assistance. Therefore, the user journey of a typical business user at MoneyMatch centers on a hybrid model.

Customer User Journey

Upon successful business user onboarding, they will be introduced to the online Pulse platform which is fully multilingual and encompasses various features that were developed to bridge the fundamental gaps faced by businesses. Whereas, the offline aspect consists of MoneyMatch’s experienced customer service team who places customer relationship building as its focal point. Depending on each customer’s need, MoneyMatch is able to assist with regards to onboarding, transaction creation, documentation safekeeping and technical concerns, if any.

The entire user journey is well thought out to ensure it gives business users comfort and trust to not only transact with MoneyMatch with higher ticket transactions, but also to continue transacting with MoneyMatch regularly.


MoneyMatch’s main revenue model is derived from its primary cross-border payments product. Powered by blockchain and APIs, its business model adopts a framework that seamlessly taps into foreign currency liquidity pools across a wide range of global trade-based and remittance-heavy corridors. This allows MoneyMatch to break down the excessive layers which currently exist in traditional payment infrastructures, hence providing a fully-digital and speedy method of transferring money overseas at competitive rates and across a diverse selection of corridors.

MoneyMatch’s Proprietary Payment Network

MoneyMatch uses a combination of conventional and newer liquidity channels for settlement. On one end, some channels are established using the traditional SWIFT banking network under MoneyMatch’s many banking partners that range from local to major foreign banks. As for newer channels, MoneyMatch integrates directly to various remittance players around the world either directly through API connectivity, or through modernized central networks such as the Ripple blockchain network. The Ripple blockchain is unique as its function allows MoneyMatch to utilize it as an alternate messaging layer with other participating FIs on the network, licensed money service operators and banks globally. As RippleNet’s software is hosted in the cloud, this maximizes the benefits to MoneyMatch’s business in the following additional ways:

  • Highly Scalable – One standardized API for all connections on the network (instead of consuming the individual APIs of each network participant). This has proved crucial in optimizing technical resources and shortening the partner integration lifecycle – from months to weeks.
  • Constant Improvement – Fast innovation cycles and quick deployment for exciting new features on the network.

Although Ripple was MoneyMathc’s first link to the blockchain ecosystem, it is not an exclusive relationship as MoneyMatch was developed to scale, hence having a platform that is agnostic and multi-blockchain. Other networks such as Stellar via the Lightnet blockchain secures MoneyMatch’s position as not only Malaysia’s leading FinTech conducting payments via blockchain, but also pushing its blockchain solutions globally.

MoneyMatch’s Revenue Model

By effectively managing the process of buying and selling pools of foreign currency liquidity, MoneyMatch is able to derive revenue per transaction from the following main sources -

  • Foreign Currency (FX) Margin on the price of buying the foreign currency inventory ahead of time, versus the price it is sold to customers to service their cross-border payment transactions and deliver the foreign currency to their intended beneficiaries; and
  • Fixed Transfer Fee that is charged per transaction.

The breakdown of Total Revenue into weightages across these two categories is shown below -

At the moment, MoneyMatch has no plans to change its current business model, nonetheless the company has goals to continue enhancing its payment platforms and scaling its B2B-focused products as an extension of its core cross-border payments business (as clarified above).

Additionally, the recent digital bank license win in Malaysia (MoneyMatch as part of KAF’s Digital Bank) is also a step towards disrupting the traditional financial industry, in alignment with MoneyMatch's goal of liberating the traditional finance space. MoneyMatch will be awarded a minority stake in the equity of KAF’s DigiBank Consortium upon commencement of the infrastructure development with potential of being awarded additional equity stake, subject to meeting certain Key Performance Index (KPI). The details of development work, KPI and potential revenue stream alongside this arrangement is still in deep discussion, nonetheless it is expected that it would not stray too far from offering MoneyMatch’s remittance payment network as well the relevant customer onboarding and transaction monitoring/screening functionalities.


MoneyMatch is operating in the Financial Technology (FinTech) or Financial Services industry, specializing in cross-border payments whereby the total revenue for cross-border transactions alone in 2020 was over USD 220 Billion, as reported in the 2020 McKinsey Global Payments Report. Irrespective of the global pandemic, this multi-billion-dollar industry continues to grow by changing and adapting through digitalization. In light of this, opportunity is not scarce for MoneyMatch in this global payment landscape.

As mentioned above, although MoneyMatch serves all customer segments, its strategic niche is serving businesses, typically the micro SMEs and recently venturing into the enterprise space. Through market research, the recent adoption of digital payment trends primarily due to the Covid-19 pandemic has led to a significant increase in paperless B2B payment flows across emerging Asia (8x increase as reported by McKinsey). This, together with many other market findings, shows predictions that Asia Pacific B2B payments revenue will double to USD 1.4 trillion by 2025. This sheds light on the B2B payments space and MoneyMatch’s aim to further grow and scale within such space.

MoneyMatch’s Market Presence

Apart from its headquarters in Malaysia, MoneyMatch has also secured licenses to operate in Australia, Brunei and Hong Kong, enabling international disbursements from its licensed jurisdictions to 110+ destination countries with a large variety of currencies (40+ currencies) and payout methods.

In the coming years, MoneyMatch is looking to further expand its footprint within the ASEAN region and is expected to secure its Singapore license soon. Subject to relevant opportunities, MoneyMatch also has plans to grow in one of Asia’s bigger regions (Thailand/Indonesia). This will involve growing local business development within the respective regions and will only be initiated if the right opportunity materializes.

Apart from that, the idea of setting up satellite offices for the main purpose of optimizing MoneyMatch’s internal operations cost is also part of its market expansion plan. Regions such as New Zealand, UK, EU and Canada which apply more flexible regulations towards foreign players are more relevant.

Therefore, irrespective of the region, MoneyMatch continues to seek out and participate in market penetration initiatives and interested parties for the purpose of forming strategic partnerships with the idea of aligning similar goals.

As MoneyMatch expands its brand and footprint across other markets, it adds significant value to its credibility and payment network, ultimately benefiting its customers as it offers more corridors which support instant payouts, different currencies and alternative payout methods.


The cross-border payments or financial industry is ever-changing, with constant new entries of players into the market and consolidated partnerships between existing players. To stay ahead of the competition, MoneyMatch leverages Big Data via its data-heavy payments ecosystem to build Intelligent Systems which optimize and automate its core-business processes.

MoneyMatch’s Differentiated Position in the Market

MoneyMatch’s unique proposition lies in its strategic niche in serving businesses and developing user-oriented products that aim to refine functionalities that are useful to businesses.

Recently, MoneyMatch obtained regulatory approval to provide its proprietary payment network to global money transfer operators, offering its B2B2C payment aggregator solution. This strategically positions MoneyMatch amongst a different set of FinTech players within the remittance market. Therefore, MoneyMatch distinguishes itself from a typical remittance player via diversification of its unique business-focused product lines, coupled with its strong and sticky business customer base.

In Malaysia itself, remittance-focused FinTech players tend to cater more towards the C2C market (e.g. Wise fka Transferwise, Western Union, etc). Other players who focus on serving enterprises such as Tranglo have very limited channels while MoneyMatch has a wide breadth of destination countries, option of native vs non-native currencies and growing payout methods.

MIN TARGET RM 1,998,000
MAX TARGET RM 7,002,000


The fund utilization breakdown will vary depending on the amount raised. The funds raised via ECF will be fully utilized for GROWTH (product development and market expansion) and working capital.




MoneyMatch’s vision is to create a world where financial literacy and inclusion will no longer be a problem for the underserved. This is achieved through MoneyMatch’s mission of aspiring to be the leading B2B solutions provider via servicing financial pain points.

Through years of serving business customers which involved addressing, learning and resolving pain points faced by the B2B customer segment, MoneyMatch has gained a strong footing in establishing its credibility among its users. This has led to developing functional and purposeful solutions for SMEs. 

Apart from feature enhancement and product development, MoneyMatch’s digitalisation aspect has allowed the company to be adaptable, customisable and agile, translating this vision to its customers. MoneyMatch is able to provide digitalisation enablement to its customers who struggle with technological adoption.


When the company was formed in 2015, its founders’ (Adrian Yap and Naysan Munusamy) vision was to disrupt the traditional finance industry. The concept came to fruition when MoneyMatch participated in the Cyberview Living Lab Accelerator  programme managed by WatchTower and Friends (WTF Accelerator).

  • Pre-seed 1: Our first investor is WTF Accelerator in 2015
  • Pre-Seed 2: Closed the round in 2016 with Kosciuszko Holdings, where the funds were utilized purely for platform development via tech.
  • Seed: Funds raised with several corporate and individual investors in 2017, to which corporate investors are Tuas Capital, Ace Pursuit, E-Basis Bay, TSNK Capital and FNT Ventures and one of the individual investors is Azran Osman Rani, ex-CEO of Air Asia X who is also currently MoneyMatch’s Chairman. In the same year, MoneyMatch entered the Central Bank of Malaysia’s Fintech Regulatory Sandbox and successfully launched its MoneyMatch Transfer Platform to the public.
  • Pre-Series A: In 2018, MoneyMatch raised funds via Convertible Debt Notes (completely converted to equity) led by Cradle Seed Ventures.
  • Series A: Concluded the first tranche of its Series A round and graduated from the BNM Sandbox and obtained its remittance license in 2019. Its Series A2 round was taken up in 2021 by KAF Investment Bank Berhad, a local investment bank.

Founders of MoneyMatch are Adrian Yap Choong Shen and Naysan Munusamy who both have over a decade each of banking experience in treasury markets

Adrian started off his career with the Bank of America in New York before returning back to Malaysia where he built his career with Hong Leong Bank in their treasury division with stints in trading, sales and structuring. As the CEO of Malaysia, Adrian handles all day-to-day senior management duties with a focus on business development.

Naysan started off his career with Standard Chartered Bank in Kuala Lumpur before moving on to Singapore and Hong Kong and then back to Malaysia for senior roles in local financial institutions. He was the founding COO for the pitchIN equity crowdfunding platform right before he started up MoneyMatch. In MoneyMatch, Naysan serves as the country head for overseas operations such as Brunei and Australia and is more focused on group strategy.

The founders’ end goal is to disrupt the traditional finance industry by digitizing and liberating the commercial foreign exchange market through the introduction of more efficient ways to perform financial transactions. Through MoneyMatch’s collaborative model and tech-driven focus, it is capable of offering cheaper and faster remittances via seamless platforms.


In addition to MoneyMatch’s Co-Founders, En Azran Osman-Rani serves as the Chairman of MoneyMatch group and has been a long-time supporter from when he served as MoneyMatch's mentor during its accelerator days and was even an early angel investor. With his vast business experiences in scaling up businesses and strong professional connections, he has proven an invaluable senior leadership figure for MoneyMatch.

Additionally, leading the Operations and Treasury Department is Haddy Rohan Zulkifli, ACA who serves as MoneyMatch’s Chief Operating Officer who handles all of the treasury operations, payment processing and even client servicing and partnership under his watch.

MoneyMatch's Chief Compliance Officer is Manjeev Singh who is the foreman of the Compliance Department greatly shores up the company’s compliance regime and is a key factor to MoneyMatch winning the trust of regulators and expanding its presence and licenses.

Furthermore, leading the Finance Department is Anees Aisyah, FCCA who is the Head of Finance bringing her valuable applicable experience in both the corporate and entrepreneurship worlds together to MoneyMatch.

Finally, the Head of Data Science, Ashdave Singh, who is extremely skilled in data analytics as he embarked on an academic career which combined his skills in mathematical modeling, statistics and data analysis with business strategy. He now provides leadership and support to his team of data scientists in MoneyMatch in using advanced analytics in accordance with MoneyMatch’s business objectives. Ashdave also helps develop and enhance data collection procedures using machine learning techniques to include information that is relevant for building analytic systems for MoneyMatch.


Recent press on the digital bank license win in Malaysia -

  • https://www.malaysiakini.com/announcement/582247
  • https://www.nst.com.my/business/2022/05/794104/moneymatch-start-series-b-fundraising-after-winning-digital-banking-licence

Please login as an investor to see more information.

MoneyMatch Sdn Bhd doesn't have any updates to show yet.

Please login or sign up to see the discussions.



Equity Crowdfunding is risky. You are investing in early stage companies which may not do well and could even fail. You could lose part or all of your investment. You may not be able to sell your shares easily.

Investments are speculative and carry high risks. To decrease exposure, these types of investments should only be made as part of a diversified portfolio. Spread your risks and only invest money that you can afford to lose. pitchIN wants all investors to understand these risks and make careful investment decisions. You are also encouraged to seek independent advice.