MoneyHero Group Provides Guidance for Over $100 Million in Annual Revenue and Profitability in 2024; Elevates Shravan Thakur to Chief Commercial Officer to Support Growth and Expand Leadership Team
- Written by Media Outreach
In his new role as CCO, Mr. Thakur will work directly with MoneyHero's Chief Executive Officer, Rohith Murthy, the Company's management team, and the Board of Directors to optimize all MoneyHero's commercial operations throughout Greater Southeast Asia. Specifically, Mr. Thakur will oversee:
- Development and implementation of MoneyHero's go-forward commercial strategies;
- Growth and diversification of revenue streams across the Company's integrated business units;
- Improvement of enterprise-wide profitability;
- Development and enhancement of corporate partnerships; and
- Scaling the Company's commercial and analytics departments with top talent, technology, and other strategic resources.
"I am thrilled to take this next step with MoneyHero, which has become the largest and most dynamic player in the personal finance aggregation and comparison sector in Greater Southeast Asia," said Mr. Thakur. "Between our existing infrastructure, stellar reputation, years of sustained performance, and unique and deep access to capital through our successful U.S. listing last year, MoneyHero has never been better positioned for the future. I am excited about the opportunities that lay ahead and look forward to scaling the business—while improving profitability—against a complex backdrop of accelerated digitization, product innovation, and ever-evolving consumer preferences."
The promotion of Mr. Thakur to CCO comes as part of MoneyHero's efforts to expand its executive team and platform after its successful listing on Nasdaq. The Company, which has dramatically outpaced the performance of peers in the marketplace, saw unaudited fiscal year 2023 enterprise-wide revenue growth of more than 20% year-over-year ("YoY") and Q4 2023 revenue growth of more than 60% YoY. In the key markets of Singapore and Hong Kong, MoneyHero saw over 130% and 40% YoY Q4 revenue growth, respectively[1]. This positive performance was driven by continued investments that enhance and diversify the MoneyHero platform, while efficiently capturing greater market share. These investments include significant initiatives with the Company's insurance offerings and substantial scaling of MoneyHero's unique B2B2C platform, Creatory, which is now a major contributor to the Company's integrated revenue streams. The Company will continue to execute on this 'buy-versus-build' approach throughout 2024 and beyond to maintain its growth rate and further-dominate market share across Greater Southeast Asia.
"On behalf of MoneyHero, I want to congratulate Shravan on his well-deserved promotion as we cap off another year of strong performance and embark on a new journey of ambitious growth," said Rohith Murthy, CEO. "Looking forward in 2024, we are poised for accelerated revenue increases across our platform, fueled by our team's proven ability to scale efficiently and organically. In fact, subject to the risks regarding forward-looking statements highlighted by the Company in this press release and its public filings, MoneyHero is set to surpass the key threshold of $100 million in enterprise-wide revenues this year, aiming also to achieve adjusted EBITDA positivity—a feat unmatched by any personal finance aggregation platform in our region. Our strategic approach is proving successful, keeping us committed to delivering exceptional value to all our stakeholders."
For more information about MoneyHero, including information for investors and learning about career opportunities, please visit www.MoneyHeroGroup.com.
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