MoneyMatch

What MoneyMatch does

MoneyMatch is a Malaysia-headquartered cross-border payments fintech founded in 2015 by Adrian Yap and Naysan Munusamy. The company operates a remittance and FX platform serving Malaysian individuals, Malaysian SMEs and regional enterprise clients (MTOs, financial institutions, agents), sending money from Malaysia to 110+ countries in 88+ personal-use currencies and 121+ enterprise-use currencies across 42 currencies. Its regulated footprint now spans five jurisdictions — Malaysia (Class B MSB 00544), Australia (AUSTRAC RNP/Independent Remitter), Brunei (BDFSA MR/0023), New Zealand (FSPR FSP1005039) and Singapore (MAS Major Payment Institution PS20200631) — with conditional Hong Kong approval and a consortium interest in the KAF-led Islamic Digital Bank licence.

The product stack is modular. Personal Transfers is the consumer-facing remittance engine delivered via web dashboard, iOS/Android apps, e-KYC onboarding and three payout rails (bank account, e-wallet, cash pickup). Pulse is the B2B payments super-app for SMEs, providing live currency rates and bulk payments to up to 500 recipients. Orbit is the enterprise/API platform for MTOs and financial institutions, integrating with RippleNet and offering maker-checker workflows, branch hierarchy management, white-label and FX solutions via the RemitFX API. Adjacent lines include MoneyMatch Insurance (BNM-approved insurance agency since 2022), an announced Mastercard co-branded prepaid card and eWallet for salary disbursement, and a planned financing marketplace.

The business model combines flat per-transfer consumer fees, FX margin on B2B cross-border payments, enterprise API/white-label/licensing revenue, insurance agency commissions, and agent-network/principal-licence revenue from ~13 approved Malaysian agents (Ksher, CBP, Bayo Pay, WavPay, Swipey, BoldRemit, Qurex and others). Machine-learning treasury optimisation and Ripple blockchain rails underpin a 2-3% FX-rate advantage versus Malaysian banks. Capital has come from a 2019 Cradle Seed Ventures-led Series A first tranche, a 2021 KAF Investment Bank-led Series A second tranche (US$4.43M / MYR 18.5M total, with Malaysia Debt Ventures venture debt), a 2023 PitchIn equity crowdfunding that surpassed MYR 4M, and an announced Series B in 2022. The company has 110+ employees, has served 1.3M+ customers, and reports MYR 66+ billion in cumulative transaction volume.

Name

MoneyMatch

Legal name

MoneyMatch Sdn. Bhd.

Website

https://moneymatch.co

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

MoneyMatch is a Malaysian-licensed cross-border payments fintech that enables individuals, SMEs and enterprises to send money internationally via bank, e-wallet and cash pickup across 110+ countries, operating Pulse and Orbit B2B platforms and holding licences in five jurisdictions.

Ownership category

akta.pro rank

Product category

Cross-Border Remittance Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Consumer P2P International Remittances (FSAGAKAA)

akta.pro secondary industries

Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO), B2B Crypto Payouts, Mass Payments & Treasury Disbursements (FSADAIAF), Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)

Keywords

• Cross-border remittance
• International money transfers
• FX payment services
• B2B payment platform
• Remittance API

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Cross-border remittance transaction fees (Personal): Flat, low per-transfer fees on consumer remittances from Malaysia; no subscription or hidden fees. Specific destinations priced as low as RM3 (e.g., 2021 fee reduction to RM3 for specific destinations).
2. FX margin on cross-border business payments: Earned on the spread between mid-market and offered rate for B2B cross-border payments. MoneyMatch sources best rates from multiple banks and passes on bank-beating rates to SMEs.
3. Insurance agency commissions: Operates as an approved insurance agency offering personal insurance and SME insurance products (B2B and B2C) in partnership with insurers, generating referral/commission income.
4. Enterprise API / white-label / FX solutions: Revenue from enterprise customers (MTOs, financial institutions) for integration with the Orbit platform, white-label remittance, FX solutions and mass-payout processing via API/RippleNet/web dashboard.
5. Agent network / principal-licence revenue: Principal licensee authorised to appoint remittance agents; generates revenue from agents using MoneyMatch's remittance rails and infrastructure across Malaysia.
6. Cards and eWallet (coming soon): Planned MoneyMatch co-branded Mastercard prepaid card and eWallet app for salary disbursement and remittance; partner cards (e.g., Swipey) routed via MoneyMatch infrastructure.

Pricing tiers

Go-to-market motion5 records

Distribution channels9 records

Marketing channels10 records

Core offering

MoneyMatch operates a digital cross-border international money transfer and remittance platform enabling individuals, SMEs, and financial institutions to send money abroad with bank-beating FX rates, low flat fees, and instant or 1-2 day settlement across 110+ countries and 88+ currencies via bank transfers, e-wallets, and cash pickup. The platform is delivered through an omni-channel stack including a web dashboard, native iOS/Android mobile apps, the Pulse B2B payments platform, the Orbit enterprise dashboard, and the RemitFX API, with proprietary machine-learning-based treasury optimisation and Ripple blockchain integration.

Product overview

MoneyMatch operates a modular fintech platform anchored by a core cross-border remittance engine (MoneyMatch Personal Transfers) serving individual users via web dashboard, mobile app (iOS/Android), and three payout rails: bank transfer, e-wallet, and cash pickup across 110+ countries and 88+ currencies. The platform branches into Pulse, a B2B payments super-app with interactive dashboard, live rates, and bulk transfer features for SMEs, and Orbit, an enterprise payment-network and white-label platform with API and RippleNet integration for financial institutions and money transfer operators. Adjacent offerings include MoneyMatch Insurance (personal and SME insurance, operated under a BNM insurance agency approval), MoneyMatch Financing (announced, in pipeline), the MoneyMatch Card & eWallet (prepaid Mastercard co-branded payment and salary cards with eWallet app, coming soon), and the RemitFX API for embedded cross-border payment integration. MoneyMatch also operates an Agent Network for licensed remittance agents (including Swipey Corporate Expense Card partner), a Promotions/Referral program, and supports the KAF Digital Bank consortium (Islamic digital banking).

Differentiator

Problem solved

Functional benefit

Brands

• Pulse: MoneyMatch's B2B business payments super-app platform, featuring an interactive dashboard, live currency rates, bulk upload for paying multiple beneficiaries, and multilingual navigation in English, Bahasa Malaysia, and Chinese.
• Orbit

Products and services

• MoneyMatch Personal Transfers Core remittance product for individual consumers to send money internationally via bank transfers, e-wallets (bKash, Alipay, GrabPay, PayMaya, Dana, GoPay, Ovo, EasyPaisa, Jazzcash, SadaPay), or cash pickup, covering 110+ countries and 88+ currencies.
• Pulse Business Platform B2B payments platform designed for SMEs with an interactive dashboard, live currency rates, bulk upload feature for paying up to 500 recipients in one go by currency or destination country, multilingual navigation (English, Bahasa Malaysia, Chinese), and a dedicated Relationship Manager. No registration or subscription charges.
• Orbit Enterprise Platform Enterprise payment network solution and one-stop enterprise dashboard for MTOs and financial institutions across 121+ countries, 42+ currencies, and 11+ cash pick-up countries, supporting mass payouts, home remittance, business payments, FX, white-label capabilities, maker-checker workflows, branch hierarchy management, and Straight-Through Processing (STP).
• MoneyMatch Mobile App Mobile application available on iOS App Store and Google Play Store for personal users to make international money transfers, complete e-KYC verification, and track transactions on the go.
• RemitFX API Enterprise API for integrating cross-border payment and remittance capabilities into third-party systems; supports mass payouts, home remittance, business payments, FX/white-label solutions, maker-checker functions, customised dashboards, bulk transfer uploads, and Straight-Through Processing (STP).
• MoneyMatch Insurance Insurance offerings including SME insurance to protect business assets and personal insurance for individual lifestyle needs, operated as an insurance agency approved by Bank Negara Malaysia since 2022 and generating referral/commission income.
• MoneyMatch Agent Network Agent program enabling financial institutions, non-bank financial institutions, e-commerce platforms, mobile money operators, payment service providers, and corporate businesses to offer remittance services under MoneyMatch's established payment network, with autonomy, customised financial solutions, and revenue diversification.

Quantifiable outcome

• 2-3% gain vs. typical bank FX spread on cross-border B2B payments
• +8 more outcomes

Named customers12 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature7 records

Partnerships

36 partnerships are on record, tiered flagship, core and minor.

• KAF Digital Bank (Onz Banking)flagshipStrategic or Co-development PartnerMoneyMatch is a proud consortium partner of KAF Digital Bank (Onz Banking), working alongside KAF Investment Bank to deliver Shariah-compliant digital banking solutions to Malaysians and foster financial literacy. The consortium was awarded an Islamic digital bank licence by Bank Negara Malaysia in 2022.
• Cyberview (Cyberjaya Living Labs Accelerator)coreStrategic or Co-development PartnerMoneyMatch was accepted into the Cyberview Living Labs Accelerator programme in 2015 and successfully graduated in 2016, an early accelerator partnership that supported MoneyMatch's product and regulatory development.
• PitchIn (Equity Crowdfunding)coreGTM or Marketing PartnerMoneyMatch's 2023 equity crowdfunding campaign on PitchIn (Malaysia's first recognised equity crowdfunding operator) surpassed its MYR 4 million target, raising capital from the crowd.
• Singapore Fintech Association (SFA)minorOthersMoneyMatch became a member of the Singapore Fintech Association in 2021, supporting its regional ecosystem and Singapore expansion.
• Ripple (RippleNet)coreTechnology or IntegrationMoneyMatch leverages Ripple's blockchain via RippleNet for swift cross-border transactions; the company completed its first international transaction from Malaysia using Ripple in 2018 and offers RippleNet as an integration option on the Orbit enterprise platform.
• MastercardcoreTechnology or IntegrationMoneyMatch's planned prepaid payment and salary card is Mastercard co-branded and certified for worldwide payment acceptance, with chip & pin, contactless, points & rewards, ATM cash withdrawal and MBSB virtual account.
• AlipaycoreTechnology or IntegrationMoneyMatch supports CNY payouts to Alipay wallets in China as part of its e-wallet payout methods.
• bKash (Bangladesh)coreTechnology or IntegrationMoneyMatch supports BDT payouts to bKash wallets in Bangladesh.
• GrabPay / PayMaya (Philippines)coreTechnology or IntegrationMoneyMatch supports PHP payouts to GrabPay and PayMaya in the Philippines.
• Dana / GoPay / LinkAja / Ovo / Paytren / True Money (Indonesia)coreTechnology or IntegrationMoneyMatch supports IDR payouts to multiple Indonesian e-wallets (Dana, GoPay, LinkAja, Ovo, Paytren, True Money).
• EasyPaisa / Jazzcash / SadaPay (Pakistan)coreTechnology or IntegrationMoneyMatch supports PKR payouts to EasyPaisa, Jazzcash and SadaPay in Pakistan.
• Mutual Trust Bank (Bangladesh, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables BDT cash pickup through Mutual Trust Bank branches and agents.
• Pos Indonesia (cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables IDR cash pickup through Pos Indonesia and post office branches.
• Cargills Bank and Food City (Sri Lanka, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables LKR cash pickup through Cargills Banks and Food City Stores in Sri Lanka.
• EsewaRemit / Everest Bank (Nepal, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables NPR cash pickup through EsewaRemit and Everest Bank branch & agents.
• Bank of Punjab (Pakistan, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables PKR cash pickup through Bank of Punjab agents.
• Cebuana Lhuillier / M Lhuillier (Philippines, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables PHP cash pickup through Cebuana Lhuillier and M Lhuillier branches.
• AMK Microfinance / True Money / Wing Bank (Cambodia, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables USD cash pickup through AMK Microfinance and agents, True Money and Wing Network (Wing Bank) in Cambodia.
• FinFan (Vietnam, cash pickup)minorChannel Partner/ Reseller/ DistributorMoneyMatch enables VND cash pickup through FinFan agents in Vietnam.
• Ksher Malaysia Sdn. Bhd.coreChannel Partner/ Reseller/ DistributorLicensed merchant acquirer specialising in cross-border payment solutions through Alipay and WeChat Pay. Acts as a MoneyMatch agent, integrating remittance into its merchant acquiring and cross-border fund collection services.
• Koperasi Co-opbank Pertama Malaysia Berhad (CBP)coreChannel Partner/ Reseller/ DistributorCooperative bank established in 1950 offering Islamic financial products across Malaysia. Acts as a MoneyMatch agent providing remittance services to its members and customers.
• Bayo Pay (M) Sdn BhdcoreChannel Partner/ Reseller/ DistributorBNM-regulated multi-label digital payment and e-money issuer founded in 2016, a licensed Mastercard principal issuer. Acts as a MoneyMatch agent for remittance services.
• WavPay Systems Sdn BhdcoreChannel Partner/ Reseller/ DistributorBNM-regulated e-money issuer founded in 2017 offering a secure digital wallet and white-label payment solutions. Acts as a MoneyMatch agent and integrates remittance into its ecosystem.
• Nocake (CPay Solutions Sdn Bhd)coreChannel Partner/ Reseller/ DistributorMalaysian subsidiary of Curfex Hong Kong Limited, a licensed MTO in Hong Kong and Japan. Acts as a MoneyMatch agent delivering global fund transfer solutions with competitive pricing and guaranteed timelines.
• Swipey Digital Services Sdn BhdcoreChannel Partner/ Reseller/ DistributorMalaysian fintech (founded 2021) offering corporate cards, QR payments, AI-powered bill/invoice management with cross-border capabilities via MoneyMatch, and accounting integrations. Acts as a MoneyMatch agent and distributes the Swipey corporate expense card on MoneyMatch's cards page.
• Pay Direct Technology Sdn Bhd (BoldRemit / BetterPay)coreChannel Partner/ Reseller/ DistributorMalaysian fintech (founded 2018) operating BetterPay and launching BoldRemit in November 2025, a B2B cross-border remittance solution enabled by MoneyMatch's infrastructure. Acts as a MoneyMatch agent.
• Kirim Uang Malaysia Sdn Bhd (KirimUang.com)minorChannel Partner/ Reseller/ DistributorDigital remittance platform focused on Indonesian overseas communities sending funds home via its mobile application. Acts as a MoneyMatch agent.
• Qurex Sdn BhdminorChannel Partner/ Reseller/ DistributorBNM-licensed Money Services Business within the Advance Synergy Berhad group with 20+ years of experience in currency exchange and cross-border B2B remittance. Acts as a MoneyMatch agent.
• Syed Kadir M Sdn BhdminorChannel Partner/ Reseller/ DistributorMalaysian-owned money changer and remittance provider (est. 2000) with five branches across Malaysia. Acts as a MoneyMatch agent.
• Taj Muhabath Sdn Bhd (TMSB)minorChannel Partner/ Reseller/ DistributorBNM-licensed Money Services Business operating currency exchange and remittance branches nationwide. Acts as a MoneyMatch agent.
• Pengurup Wang Kluang Sdn Bhd (PWK)minorChannel Partner/ Reseller/ DistributorBNM-licensed money changer and authorised remittance agent (25+ years) with branches in Kluang and Johor Bahru. Acts as a MoneyMatch agent.
• Saujana Hirisan Sdn BhdminorChannel Partner/ Reseller/ DistributorMalaysian-based currency exchange company with physical branches providing retail foreign currency exchange. Acts as a MoneyMatch agent.
• Truely (eSIM)minorGTM or Marketing PartnerCo-marketing promotion offering MoneyMatch users free unlimited Truely eSIM data as a customer perk; promoted via the MoneyMatch Promotions page.
• ZendeskcoreTechnology or IntegrationZendesk powers MoneyMatch's customer support experience (support.moneymatch.co) and is listed in the Cookie Policy.
• MYStartup (Ministry of Science, Technology and Innovation Malaysia)minorGTM or Marketing PartnerMoneyMatch is featured on MYStartup's community platform, including a "GTK" video "From Sembang Mamak to Fintech Hero" that promotes the company and the Malaysian startup ecosystem.
• Bank Negara Malaysia (BNM) Fintech Regulatory SandboxOthers

Scale indicators14 records

Recent moves11 records

Expansion highlights7 records

Broad incumbents

• MoneyGram: Established cross-border P2P payments and money transfer company with global agent footprint. Overlaps with MoneyMatch on Malaysian outbound remittance and B2B cross-border payout services.
• Western Union: Global incumbent in cross-border money transfer with extensive agent network and digital channels. Competes with MoneyMatch on consumer remittance from Malaysia but at much larger scale and broader corridor coverage.

Direct peers

• Wise: Global cross-border remittance and multi-currency account platform serving consumers and SMEs. Direct competitor to MoneyMatch's personal transfers and Pulse B2B FX offering across similar outbound corridors.
• Remitly: Digital remittance platform focused on consumer money transfers from developed markets to emerging markets. Comparable to MoneyMatch's personal remittance product with similar bank, e-wallet and cash-pickup payout options.
• WorldRemit: Cross-border digital money transfer service offering mobile wallets, bank deposits and cash pickup. Competes with MoneyMatch on similar corridors, particularly Asia-to-Asia and Asia-to-Middle East.
• Sendwave: Mobile-first remittance app serving migrant corridors in Africa and Asia. Comparable to MoneyMatch's personal transfer product and emphasis on mobile wallets and emerging-market payout rails.

Regional players

• Merchantrade Asia: Malaysia-based money services business operator (MTO and e-money issuer) with a comparable Malaysia-anchored remittance and FX platform. Closest direct domestic peer to MoneyMatch with similar licensing footprint.
• Tranglo: Southeast Asian cross-border payment hub providing remittance, mobile airtime and B2B payout infrastructure. Comparable to MoneyMatch's Orbit enterprise platform and agent/MTO network across Asia.
• iRemit: Filipino-founded remittance brand serving overseas Filipino workers across Asia and the Middle East. Comparable to MoneyMatch on the MY-to-PH corridor and e-wallet payout integrations (e.g., PayMaya).

Others

• Ripple: Enterprise blockchain and RippleNet payment network provider whose rails MoneyMatch leverages for cross-border disbursements. An enabling infrastructure partner rather than direct competitor, but increasingly developing white-label payout services that could overlap with Orbit.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/moneymatchapp
• Facebookfacebook.com/moneymatchapp
• LinkedInlinkedin.com/company/13262866
• Instagraminstagram.com/moneymatchapp

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MoneyMatch