MoneyHero Group, the owner of SingSaver and Seedly, has reported a significant shift in consumer preference towards cash rewards in Singapore, resulting in a US$0.2m profit for its Singapore operations in the first half of 2026. The company distributed US$7.3m in cash rewards to Singapore users, contributing to a 9% increase in transaction value to US$41.5m.
The company’s strategic pivot towards cash rewards has also improved its approval rate by 9 percentage points to 48% across its Asian markets. This shift has attracted applicants with stronger intent, leading to exclusive partnerships with two of Singapore’s largest retail banks. Additionally, AI-driven efficiencies have halved technology costs and reduced overall operating expenses by 12% in Q2.
Danny Leung, Interim CEO and CFO, highlighted the company’s progress, stating, “Our second quarter delivered continued improvement in unit economics, approval quality, and cost discipline.” Despite a net loss of US$1.2m due to foreign exchange volatility, the company’s Adjusted EBITDA loss narrowed by 17% year-over-year to US$1.6m.
Looking ahead, MoneyHero plans to launch a Home Loans comparison category in Singapore and expand its online Life Insurance offerings in Hong Kong. The company maintains a debt-free balance sheet with US$28.2m in cash, positioning it well for future growth.
