Singapore personal finance website DollarsAndSense.sg announced today (18 Feb) the acquisition of local insurtech startup fundMyLife.
Founded in 2012, DollarsAndSense is a publication focused on creating “timely, relevant, and useful information on personal finance matters presented for the ordinary Singaporean in a bite-sized, interesting, and enjoyable manner”.
fundMyLife, on the other hand, was founded in 2017 and aims to be a “web marketplace” for insurance and finance planning.
Consumers can either find a financial advisor best suited to their needs, or ask an insurance-related question to a curated pool of trusted financial advisors via its private Q&A platform. The site also helps financial advisors showcase their accomplishments, client testimonials, and value-add to prospects who have shown an intent to make a financial planning decision.
The firms have been working closely together since 2017 on multiple areas including affiliate partnerships, content marketing, and improving engagement with the financial advisor community.
With the acquisition, DollarsAndSense will add to its growing media business an innovative insurtech platform for consumers, and give it better insights into what consumers are looking for, as well as identify gaps in Singaporeans’ financial planning knowledge.
DollarsAndSense readers will also be able to ask financial planning-related questions directly and anonymously to trusted advisors who are on the fundMyLife platform.
Said Timothy Ho, co-founder and Managing Editor of DollarsAndSense:
The acquisition of fundMyLife will give people in Singapore a secure way to receive personalised answers from trusted professionals for their financial planning and insurance questions.
“For financial advisors, they can focus on what they do best – provide good financial advice and to service their clients – rather than spending unnecessary time trying to get leads inefficiently.”
“We are committed to make this platform a success for everyone involved.”
Added Jackie Tan, co-founder of fundMyLife: “DollarsAndSense brings their expertise in creating original content in the personal finance space, joined with strong branding and reach. I believe fundMyLife will achieve its growth potential in the coming months as a result of this partnership.”
During the transition, fundMyLife co-founders Jackie Tan and Wesley Goi will remain on board to ensure continuity and aid a seamless transition.
