Northern Ireland brothers behind Oz comparison website in major Asian deal
Two brothers from Northern Ireland who founded a credit card comparison website in Australia have now bought a business in Singapore in a multi-million pound deal.
Ballymena men David (36) and Andrew Boyd (37) set up Credit Card Compare as a joint project when David moved Down Under around 10 years ago.
The company is headquartered in Port Macquarie on Australia's north coast.
Now they've acquired 90% of Finty, a rewards-based financial comparison marketplace in Singapore that was launched in April last year.
Andrew, who divides his time between home, Singapore and Australia, said the deal would give Credit Card Compare a foothold in Asia's growing marketplace.
David is based in Australia and Singapore.
"We wanted to expand and, with Singapore as the natural gateway to the fast-growing Association of Southeast Asian Nations (ASEAN) region where GDP growth outpaces that in Australia, it seemed like a natural move. This acquisition is a key plank in our growth strategy," he said.
He added that the deal had taken many months to conclude.
"The Finty team has built a great business in a short time, overcoming challenges and building their brand along the way. They are an extremely dynamic, hard-working and smart team. We are delighted to be working with them as we expand into Asia," he said.
"We are excited to work with new banks and brands, and to continue building on our existing relationships with international partners including American Express, HSBC and Citi."
Credit Card Compare was used by around two million consumers over the last year.
Andrew is also a director of a social media and marketing agency, Boyd Creative.
The pair are past pupils of Cambridge House.
David has a HND in business and marketing from Ulster University while Andrew studied English literature at Queen's.
According to his LinkedIn profile, David's first experience in internet marketing was in 2000, with a business exporting goods from the UK to the US.
"I'm entrepreneurial by nature and with the help of a great team we've achieved tremendous results for Credit Card Compare," he said.