Australia-listed financial comparison company iSelect has gained majority ownership of Malaysia-based iMoney after buying shares worth $4.15m.
The company said it has upped its stake in the financial comparison service to 51.5 per cent from 23.8 per cent by buying shares from other shareholders according to a filing with the Australian exchange.
iSelect is now the majority and single largest shareholder in iMoney which claims to be Southeast Asia’s largest comparison portal.
Headquartered in Kuala Lumpur, iMoney has operations in Malaysia, Singapore, Indonesia, and the Philippines.
The company compares credit cards, loans, broadband, and insurance products and provides advice to consumers.
Back in September 2014, iSelect was the only investor in iMoney’s $4m Series B funding round. In the past, iMoney has landed capital from Asia Venture Group, IMJ Investment Partners, 500 Startups, and Jungle Ventures, among others.
Earlier this year, Southeast Asia CompareAsiaGroup picked up a $50m Series B funding round, led by IFC who committed $15m to the investment.
Price comparison platform ComparaOnline also reportedly picked up a $14m in a new funding round, while financial service comparison platform CompareEuropeGroup raised €20m in its Series A round.
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