Finder acquires shopping cashback fintech Grow My Money

Comparison fintech Finder has acquired cashback platform Grow My Money for an undisclosed sum.

Founder Pascale Helyar–Moray originally launched Grow My Money as Super-Rewards in late 2019, helping people save for the retirement with a cashback program from shopping. She subsequently expanded into mortage repayments, transforming the fintech into its current form and brand

People can shop with the likes of Appliances Online, Chemist Warehouse and The Good Guys, linking their credit or debit card and the retailers offer cashback paid automatically into the user’s nominated mortgage account or superannuation fund

On average, users get 2% of their spending credited back to their nominated account.

Finder CEO Frank Restuccia said their data shows the average Aussie household spends $2,010 a week on living expenses, which could mean an extra $2,090 of cashback a year paid towards mortgage debt or retirement savings.

“Investing for the future is so important and super and property are two of the biggest assets you can build in your life,” he said.

“Grow My Money presents an exciting opportunity to acquire a fast-growing rewards platform with significant potential for further expansion.

“The Grow My Money team have successfully built a loyal customer base experiencing a boost to their long term financial position without paying an extra cent from their paycheck.”

Helyar-Moray was awarded the Medal of the Order of Australia this year for service to business and to women’s affairs, and built Grow My Money to close the gap for women when it comes to retirement savings.

“It’s unrealistic to think you can cut back all spending, but pairing sound budgeting with monthly top-ups, can get you further ahead than you might think,” she said.

“The super balances of women don’t accurately reflect their extremely valuable contribution to society. No woman should be facing financial stress in retirement.”

Two-thirds of Grow My Money members are female.

“This innovation basically means bonus money is paid into your home loan or superannuation account as you go about your life,” Helyar-Moray said.

“As living costs skyrocket, these cashback amounts become even more meaningful.”

The Grow My Money brand and its team will continue to operate independently of Finder following the acquisition, while sharing resources across the wider Finder Group.