Edinburgh mums launch crowdfunding campaign for financial literacy app
Two mums from Edinburgh have launched a crowdfunding campaign for a new app designed to improve financial literacy levels among children.
Tynah Matembe and Helene Rodger have developed family finance management platform KUZAKASH which aims to promote global youth financial inclusion.
The duo hope to raise £12,000 to support the launch of its KUZAKASH APP. It is their company MoneyMatix’s first fundraising campaign and will be done via the RBS Back Her Business scheme which pledges to match fund up to 50% of their crowdfunding target.
Led by the two women, the business is part of the RBS Accelerator and has been delivering financial capability in schools for over two years – giving the team a grassroots understanding of financial literacy.
Modern financial habits have presented new complex money management challenges with youth turning to adults for financial guidance but finding them ill-equipped at money management.
These findings led the company to develop KUZAKASH, a family finance management app promoting meaningful financial interactions between children, parents & teachers within a dynamic, education-centric ecosystem.
There are 2.2 billion children in the world yet great barriers to youth financial inclusion create financial illiteracy globally. In parallel, the ‘edutainment’ economy will reach over $23billion by 2021.
The company is seeking to raise £12,000, which will be used to carry out beta testing of the KUZAKASH APP they have developed, the funding will also go towards a consumer education campaign.
The crowdfunding campaign is open to the wider public and will go a long way in helping bring financial conversations back to the dinner table. The app works using visualisation tools to make financial goal-setting fun and achievable; inherent in the design is the ability for both an adult and child to set, track and contribute towards their goals which are used as the educational touchpoints to illustrate healthy money habits for young people while at the same time helping parents maximise their income, tackle debt and develop responsible money skills.
Tynah Matembe, CEO of MoneyMatiX, said: “Financial management skills are one of the most important factors that determine our lifestyle choices. Money is a continuous touchpoint throughout our lives and technology can help make this touchpoint meaningful by enabling people to create healthy interactions with money.”
Helene Rodger, Co-Founder and COO of MoneyMatiX, said: “There is an African proverb that says it takes a village to raise a child, but I want to add to it that it takes a family and community to foster good financial habits. In this day and age of influencers, young people should not only be influenced by fashion or talent, but they should also be influenced by skills that will last for a lifetime like financial education. We are building a generation of financially savvy youngsters who will not only impact their communities but the economy at large. We can’t do this on our own! We need your help to build financially capable communities.”
To date, MoneyMatiX has delivered workshops to primary schools throughout West Lothian & Edinburgh, to University of Edinburgh students and several Youth based organisations in Scotland. They run an amazingly successful Youth Champions programme that empowers youth to role model healthy financial behaviour for their peers. The launch of the app will increase its reach in delivering these essential life skills.
Why innovation and marketing are the perfect partners to make changes that matter￼
With the rapid evolution of traditional marketing and the appearance of digital marketing, technology and innovation has become part of any marketer’s life without the need of working for a…
Transitioning to a four-day week – CEO’s vow to strike a healthier balance in the workplace
I came to Scotland nearly 20 years ago from Ireland, with no contacts but a lot of determination. While Ireland will always be my home, Scotland has given me amazing…
Women Lead: The female-led company championing intuitive working
Over the last two years, the pandemic forced a shift to more remote and flexible working practices. Whilst we might be seeing a “return to normal”, some companies are choosing…
Women Lead: My passion for young people to consider a career in digital
Twenty years ago, I stumbled across my career in digital marketing almost by accident. It was during my honours degree in marketing at Glasgow Caledonian University. I was on work…
Women Lead: Inclusive Silicon Valley cohort gives hope to entrepreneurs from diverse backgrounds
Things are happening on the Scottish tech scene. Big and small initiatives are creating a fantastic ripple effect on the sector, bottom up and top down, thanks to the recommendations…
Women Lead: The story of an entrepreneurial scientist
I first arrived in Scotland over 20 years ago. I had £75 in my wallet and a scholarship offer to do a PhD at the University of Edinburgh. Sometimes I…
Please mind the gap… or healthcare may fall
Imagine sharing a lengthy train journey with others. From beginning to end, imagine how often you might hear ‘mind the gap’ messages about embarking and disembarking safely. Picture how navigating…
Women Lead: My journey from Dragons’ Den to Silicon Valley
Following her appearance on Dragons’ Den, Sheila Hogan, serial entrepreneur, founder and chief executive of digital legacy vault, Biscuit Tin, shares her experience of her time in the Den and…