Kuala Lumpur, 18 December 2020 – Ulearnmoney (M) Sdn Bhd (ULearnMONEY), a subsidiary of Money Compass Media Group, a trusted finance-focused media company in Malaysia, has announced an equity crowdfunding campaign to raise up to RM1,500,000 for ULearnMONEY. Currently, it is rated by Google as Malaysia’s best online financial literacy platform. The fundraising exercise is facilitated by Ata Plus, an Equity Crowdfunding (ECF) Platform registered with the Securities Commission of Malaysia.
The COVID-19 induced lockdowns proved to be an economic knockout for Malaysia. As the country bore witness to the increasingly negative impacts on jobs, incomes and livelihoods which exacerbated inequalities – the Government intensified its efforts to improve the financial literacy and planning skills of Malaysians in order to prepare for the uncertain. According to the International Labour Organisation (ILO), Malaysia experienced close to a million (951,000) job losses in March 2020, and in a more worrying statistic, the Malaysian Credit Counselling and Debt Management Agency (AKPK) reported that when it came to the sustainability and preparedness after one loses his major source of income, only 24% said they could survive for up to three months with their own savings, and only 10% were confident of lasting six months unemployed.
Since its 2019 launch in Malaysia, ULearnMONEY has signed MOUs, LOCs and LOIs with over 36 partner universities across the country; among them being Manipal University, Linton University College, Universiti Putra Malaysia (UPM), Universiti Sains Islam Malaysia (USIM) and MultiMedia University. Currently, over 4,800 subscribers have registered with the platform. Adding further to its legitimacy and efficacy, the platform has also garnered support from three main government agencies – namely, the Ministry of Education, AKPK and PTPTN.
ULearnMONEY’s platform currently boasts up to 70 videos and tutorials on a wide range of fundamental and trending financial literacy topics, covering areas such as financial goal setting, budgeting, loan servicing and income creation in order for users to develop a sound mastery of the fundamentals. “Our syllabus is designed with young adults, households, professionals, entrepreneurs and SMEs in mind, giving up a conservative market size of up to 5 million users,” said Amy Seok, Founder and CEO of ULearnMONEY. “We deliberately began our ECF campaign to grant the average Malaysian the opportunity to invest in our company. We’re not just planning to change lives through education – but also through the potential returns our Shareholders stand to gain,” added Amy.
ULearnMONEY enables investors a chance to become Shareholders within the organisation from RM2,500, offering Shareholders up to a 3.64% stake in equity. The funds will ensure that ULearnMONEY is able to execute its vision of more added-value services, stronger marketing deliverables and contents, and eventually moving beyond the Malaysian market into neighbouring countries.
As job security continues to be threatened by the rising number of COVID-19 cases and Conditional Movement Control Orders (CMCO) ordained by the Government, ULearnMONEY is focusing its efforts in supporting the Government’s National Financial Literacy Strategy 2019-2023. ULearnMONEY seeks to improve the financial behaviour of Malaysians through education, in order to prepare them for the worst – and improve their odds of survival through imparting knowledge on prudent spending habits, alternative income creation and careful budgeting. “We see great value in ULearnMONEY, not just because of the potential returns it could bring investors, but also because of the important role it plays in ensuring each Malaysian has the knowledge required to navigate our current environment” says Elain Lockman, Co-Founder and Director of Ata Plus.
For more information on the company and the investment details, please visit https://ata-plus.com/deals/uLearnMONEY#overview.
