SINGAPORE, 1 March 2018 – Two of Singapore’s largest consumer platforms are collaborating to make personal finance even more accessible to Singaporeans. MoneySmart, Singapore’s leading personal finance comparison website, announced a strategic partnership with Carousell, Asia’s top mobile classifieds app, to reach out to the next generation of mobile-first consumers.
The partnership will see MoneySmart-recommended financial products directly available on the Carousell marketplace, in a brand-new Finance category. While Carousell is known for preloved goods, a category is being created exclusively for new products for the first time.
The new Finance category will exclusively feature MoneySmart listings, ensuring that listings are trusted and reliable. Users can now also apply for financial products directly within the Carousell app, making the process easy and hassle-free.
This collaboration is designed to empower users to make smarter personal finance decisions. One in four people in Singapore use Carousell on a regular basis, whether to browse for bargains or to sell preloved items. With more than half of the Carousell user base aged 25 and above, many are also turning to Carousell for big-ticket items like furniture, cars and property.
With a trusted partner like MoneySmart, Carousell users will now be able to browse for financial products, such as credit cards, personal loans, travel insurance and even property loans, just as they would regular listings on the marketplace.
“We are thrilled to enter this partnership with Carousell and offer this service to millions of users,” said Vinod Nair, CEO of MoneySmart. “Our expertise in the personal finance space allows us to help users make sense of complex personal finance information, so they can make confident decisions around personal finance products without leaving Carousell’s platform.”
“Partnering with MoneySmart was a natural step for us to bring great value to our users,” said Quek Siu Rui, Co-founder and CEO of Carousell. “We want to be a marketplace where Singaporeans can find everything they need on our app – from cars, property, jobs and services to trusted financial products. With MoneySmart’s domain expertise and knowledge in personal finance management, we hope to share the best products from banks and financial institutions with our community.”
Kicking off with credit cards, Carousell users can now tap MoneySmart’s comprehensive database on card offers and information to apply for the card that best suits their spending needs.
Carousell and MoneySmart will subsequently expand the Finance category to include recommendations for travel insurance and savings accounts within the year.
The Finance category launches on 1 March 2018 and will be made available to all Singapore users on Carousell’s mobile application