KUALA LUMPUR – uLearnMONEY has managed to raise a total amount of RM535,625 from 47 investors on Ata Plus, one of Malaysia’s ﬁrst online equity crowdfunding (ECF) platforms, and inclusive of the government equities from the Malaysia Co-Investment Fund (MYCIF).
uLearnMONEY’s ECF’s exercise ran from mid-December until the end of April. The indicative use of funds includes app development, scalable media servers, content development, hiring & IT talent, marketing, and promotion.
“The uLearnMONEY team would like to thank the investors who believed in the financial literacy of Malaysians and support the initiative with their investment.
“The investors believed that uLearnMONEY can cultivate financial literacy awareness among Malaysians as lack of financial literacy is the root of all financial problems. The investors felt a higher level of personal satisfaction when they invested in uLearnMONEY, which has an effective structured online learning method,” it said in a statement.
Amy Seok, Founder & CEO of uLearnMONEY said “Two-thirds of Malaysians are not financially literate. This fact has brought about many socio-economic problems such as poverty, high household debts, inadequate retirement savings, high defaults on student loans and credit cards, etc. Many have also lost their precious life savings to various scams and internet frauds.”
uLearnMONEY is an initiative of Money Compass Media group and aims to improve the financial literacy of all Malaysian users, especially young adults, through continuous education, counselling and budgeting tools. Its objectives support the government’s National Financial Literacy Strategy.
“At the corporate level, it is committed to assist in the effective implementation of the country’s national strategy set by Financial Education Network and spearheaded by Bank Negara Malaysia and Securities Commission,” said uLearnMONEY.
Established on June 28, 2019, the online financial education platform has now partnered with over 36 higher education institutions to reach out to their students. It has gained consistency and strength in providing online financial education through a Learning Management System platform.
Despite the challenges and disruptions faced by everyone due to the ongoing pandemic, uLearnMONEY has been recognised by Google as the best online financial education platform in Malaysia. uLearnMONEY offers a wide range of financial education programmes for students and young adults, mentored by financial experts from the industry to improve their financial knowledge and literacy.
Ranked as the #1 online financial education platform in Malaysia on Google Ranking, uLearnMONEY targets four key market segments: SMEs, students, families, and financial advisors.