AutoMoneyBack News

AutoMoneyBack gets $250k fund, Straits Times 2nd August 2012

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A group of private investors last month invested $250,000 in AutoMoneyBack.

The firm offers car and homeowners the chance to buy insurance, loans and other services from one website. Car hunters can use it to compare loans and insurance plans.

AutoMoneyBack co-founder Chua Teck Hiong says the new funds will be used for a new office in Tampines, to hire two marketing executives and to pay for advertisements.

The site’s most innovative feature is helping users negotiate for a better price and freebies if two or more people want to buy the same model of a car. But this group buying feature takes about a month to close the deal.

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