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MoneyHero helps consumers compare financial products using free information and tools, then connects them with banks, insurers and investment brokers. Its platforms include MoneyHero in Hong Kong, SingSaver in Singapore, Money101 in Taiwan and Moneymax in the Philippines. Hong Kong and Singapore supply most of its revenue.
Financial providers pay MoneyHero for bringing them prospective customers. Most revenue comes from applications that providers approve, rather than simply from visits or clicks, and credit cards generate the majority of revenue. Insurance brokerage is a smaller source of income: MoneyHero holds brokerage licenses in Singapore, Hong Kong and the Philippines and earns commissions when it acts as broker and a policy is sold.
MoneyHero spends on marketing before earning the resulting fees, so the business depends on attracting users cost-effectively and on providers continuing to offer products and approve applications. Search engines bring in a substantial share of users. A small group of partners supplies much of the revenue, with HSBC- and Citibank-related entities contributing a substantial share. MoneyHero must also maintain required operating approvals and obtain consent where required to process personal data; those requirements can limit its services and data use.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
MoneyHero depends on HSBC Holdings’ affiliated entities paying it to attract customers for financial products; together with Citibank-related entities, they supplied approximately 34% of MoneyHero’s 2025 revenue. Watch for cuts in that business or less favorable contract terms, rather than HSBC’s overall profit.
Citigroup’s Citibank-related entities pay MoneyHero to attract financial-product customers, so changes in their acquisition strategy can reach MoneyHero’s revenue. Citibank’s 2024 regional exit affected a key Philippine partner’s strategy, contributing to MoneyHero’s Philippine revenue falling from US$12.8 million in 2024 to US$7.4 million in 2025, mainly in online lead generation and marketing services.
MediaAlpha and MoneyHero both depend on financial providers’ customer-acquisition budgets and the cost of turning online visitors into customers: insurers, agents and distributors pay MediaAlpha for consumer referrals, while MoneyHero earns fees for financial-product leads and approved applications. Watch property-and-casualty insurers’ acquisition spending in MediaAlpha’s results, but note that its referral fees generally do not require an insurance purchase, whereas approved applications generated 84% of MoneyHero’s 2025 revenue.
HSBC Holdings PLC earningsHSBC
HSBC’s report offers clues about whether the financial-product customer business of its affiliates, important MoneyHero partners, remains supported.
Look for what HSBC discloses about its regional financial businesses and efforts to attract customers, rather than relying on its overall profit. Continued activity would support the view that important MoneyHero partners still have a need to attract customers; a pullback would raise the risk that they reduce business. HSBC’s overall results do not establish what its affiliates pay MoneyHero or the terms they agree to, so this is a clue to partner demand, not direct evidence of MoneyHero’s revenue.
MoneyHero Limited earningsThis company
MoneyHero’s report will show whether wealth and insurance revenue can offset weakness in credit cards and improve its operating performance.
Read changes in wealth and insurance revenue alongside credit-card revenue and the Adjusted EBITDA loss, a company-defined measure of operating performance that is not an IFRS measure. Growth in wealth and insurance, without a sharp credit-card decline, alongside a narrower loss would show that higher-margin businesses are helping offset pressure in cards; if cards fall without enough offset and the loss widens, the shift has not yet improved overall operating performance.
