Two Ballymena brothers who founded Australia’s largest credit card comparison website have announced a seven-figure investment to acquire Singapore financial comparison marketplace, Finty.
The strategic development is driven by Credit Card Compare Co-Founder, Andrew Boyd – who splits his time between Northern Ireland, Australia, and now Singapore.
He believes acquiring Finty will give the Australian fintech player a foothold in Asia’s growing market for financial services.
“This acquisition is part of our growth strategy, allowing us to build upon a successful business in Singapore which dovetails with our own vision for a comparison service that makes financial decisions easier, more rewarding, and, ultimately, more fun for customers in Australia and now across South East Asia,” Andrew said.
Credit Card Compare is currently the largest comparison site in Australia dedicated to credit cards, where more than two million consumers have used its marketplace in the last 12 months to compare and apply for a credit card.
“Comparing cards can be a daunting task, however we have developed a platform that is easy to use with the best offers in the market,” Andrew said.
Although there are no current plans to expand into the UK, Andrew says the future is looking bright: “My brother, David, and I originally set-up the business as a means of staying in touch when he moved from our home in Ballymena to Australia.
“We never would have dreamt 10 years ago that it would become the biggest site of its kind in the country.
“Although our focus at the moment is not on bringing the business to the UK, this acquisition marks an important step in expanding the business across the globe with a move closer to home not out of the question in the years ahead.”