Revenue Monster names former Affin Bank Group CEO, Kamarul Arifin, as new chairman

• Move first step in 2023 growth journey with vision to build fintech super app
• Comes on heels of US$6.4 mil private equity funding with The SEA Capital

Revenue Monster Group - a Malaysian financial technology company has appointed former Affin Bank Group CEO, Kamarul Arifin Mohd Jamil, as its new chairman. The appointment marks the group’s next step in its plans for hypergrowth within the fintech space.

Leveraging Kamarul’s decades of experience in the financial services industry, Revenue Monster Group is poised for an eventful 2023 with some partnerships, collaborations as well as mergers and acquisitions as the group continues its plan to accelerate and build a true fintech superapp.

Commenting on his appointment Kamarul said, “Over  7.2 billion e-payment transactions were recorded in 2021 in Malaysia, this shows tremendous growth potential for the sector as more Malaysians become digital-first consumers. This is prime time for businesses to digitalise and thrive in the burgeoning eCommerce space. I am honoured to join Revenue Monster Group as its new Chairman.”

Citing its ambitious plans ahead, Kamarul says he is committed to ensuring the Group achieves these goals by tapping into his industry experience and expertise to nurture a culture of innovation.

An economics graduate from Cambridge University, Kamarul spent over a decade within the Affin Bank Group before spearheading growth of local fintech player Fullrich Malaysia as its Chairman in 2020.

Lim Kar Aik, CEO of Revenue Monster Group shared, “We appointed Kamarul to enhance our corporate governance and chart future business direction for Revenue Monster Group’s further growth. We look forward to major milestones being achieved in the coming year.”

This announcement comes on the heels of several other announcements from the group including a successful second round private equity funding amounting to US$6.4 million (RM30 million) from private equity firm The SEA Capital.

Since then, Revenue Monster Group has also partnered with The SEA Capital and Fullrich Malaysia (and their local licensed e-wallet brand, TaPay) and software developer, Allied Protocol to build a more advanced B2B & B2G2C FinTech ecosystem which comprises end-to-end payment solutions from Point-of-Sale (PoS) to an eWallet licence.

“Our recent announcements coupled with the appointment of Kamarul as our Chairman all go towards our on-going plans of becoming Malaysia’s most holistic fintech solutions ecosystem,” Kar Aik added.