Sea plans IPO for financial services arm Monee, memo says
SE•Sea Limited plans a public listing for its financial services arm Monee and will launch an AI-first enterprise platform called Sea Cloud, an internal memo said. The group’s quarterly revenue has grown more than 80 times to $7.8 billion since its New York listing nine years ago.
1. Monee listing plans
Sea Limited is planning a public listing for Monee, its financial services arm, according to an internal memo sent by founder Forrest Li to employees. Li said going public would give the business “the resources and the room to go further and faster than it can today.”
2. Services and growth
Monee operates in Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Taiwan and Brazil, offering mobile wallets, payments processing, credit and banking services. The memo also said Sea would launch Sea Cloud, an AI-first enterprise platform, and that quarterly group revenue had grown more than 80 times to $7.8 billion since Sea’s public listing in New York nine years ago.
