WeMoney will roll out artificial intelligence-powered tools for its lending comparison tools after raising $12 million in a transaction that values the business at $100 million and puts it on a path to an ASX listing.

The company, which launched in October 2020 and was founded by Dan Jovevski, helps its customers make better financial decisions and pay off their debts faster by giving them an insight into their spending. It allows them to compare and apply for credit cards, swap to lower-cost products and identify where they can save money by switching providers for a range of services.