Carousell & MoneySmart team up to enable personal finance access

MoneySmart, a personal finance website, and Carousell, a mobile & consumer to consumer marketplace based in Singapore, have reportedly decided to form an alliance for making personal finance easily accessible to customers. This strategic move has been touted to help Carousell’s consumers explore the database of MoneySmart and know more about the credit card schemes that best suits their requirements. As per the deal, MoneySmart-sponsored financial products will be displayed on Carousell’s marketplace in the finance category, which is likely to be launched with MoneySmart listings.

Both the firms have apparently stated that customers can order financial products such as travel loans, credit cards, property loans, and personal loans through the application. This collaboration will help both the firms expand their finance business, which may also include travel insurance and new savings accounts within a few months, say experts.

According to FINTECHASIA,  this strategic move by both the companies will help customers make intelligent  personal financial  decisions. The publication further claims that one in every four persons in Singapore makes use of Carousell for selling products or searching for bargains. As per reliable sources, most of Carousell’s users are seeking its services for expensive products such as property, furniture, and cars. The CEO of Carousell has stated that the association with MoneySmart will help the firm explore the domain knowledge of the latter in the field of personal management. He further stated that the collaboration will help both the firms share the best products & services from financial institutions such as banks on their website.

In 2017, Carousell had introduced car market referred as Carousell Motors, with the goal of making the online purchase & selling process of cars more simple, user-friendly, transparent, and reliable. This crucial business decision was taken after the firm acquired car classifieds tool referred as Caarly in 2016.

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Dhananjay Punekar

Dhananjay develops content for Market Size Forecasters. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted for a career in writing and now pens d...

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