Sea plans to take financial services subsidiary Monee public
Founder Forrest Li said a listing could support Monee’s expansion. The group will also launch an AI-first enterprise platform called Sea Cloud.
Sea Limited plans to list Monee, its financial services subsidiary, according to a staff memo from founder Forrest Li reviewed by Reuters. The Singapore-headquartered technology group outlined the plan in the message dated 20 October.
Li said he believed a public listing would give Monee additional resources and greater scope to accelerate its expansion. Monee provides banking and credit services alongside mobile wallets and payment processing. Its operations span Singapore, Malaysia, Indonesia, Vietnam, Thailand, the Philippines, Brazil and Taiwan.
The memo also set out a separate initiative: Sea will introduce Sea Cloud, an enterprise platform business taking an AI-first approach. Sea did not immediately provide a response to a request for comment.
Li sent the message to mark the ninth anniversary of Sea’s listing in New York. He said quarterly revenue had reached US$7.8 billion, having risen more than 80 times over that period.
