Equity crowdfunding exercise to foster financial literacy

ALMOST 65% of Malaysians barely have financial back-up for retirement, shockingly most have less than RM50,000 in their Employee Provision Fund (EPF) accounts.

According to the Financial Education Network, two out of three Malaysians are ill-equipped with sound financial knowledge.

To boost financial literacy, ULearnMONEY aims to raise RM1.5 mil through its equity crowdfunding exercise, for marketing and events, technology, and platform content development, over a one-year period.

Amy Seok

The crowdfunding exercise is in support of the Government’s National Financial Literacy Strategy 2019-2023, by the Financial Literacy Education Network, which is spearheaded by Bank Negara Malaysia (BNM) and Securities Commission of Malaysia (SC),” explained Amy Seok, founder and chief executive officer of Money Compass Media (M) Sdn Bhd.

Through the collaboration centric platform, ULearnMONEY strive to achieve its objectives and undertake its ULearnMONEY Business Presentation which started on Dec 2.

“Plans are in store to develop the Learner Application, more financial education content, build a network of independent financial content creators, as well as begin development of the Financial Tool Hub application,” Amy added.

These applications and contents will be offered to university students as well as the general public to change their mindsets and help them in managing their finances, as well as gain access to credible and trusted information from the master coaches.

This initiative is also supported by the Education Ministry and over 36 institutions of higher learning in the country.

Currently, the platform is aimed at Malaysian users but indeed plans to expand its usage across other neighbouring countries, aiding individuals and users to gain and enjoy personal financial success. – Dec 16, 2020

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