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Mooney Edu

Financial literacy for everyone

Brazil
Market: Education, training
Stage of the project: Prototype or product is ready

Date of last change: 30.01.2021
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Idea

We make financial literacy uncomplicated redesigning each step of the learning journey. We have developed a gamified financial education teaching platform based on active methodologies to involve parents, teachers and schools to improve the future of the next generations of adults, making it easy for them to reach their dreams and develop long term healthy financial habits.

Current Status

We have freemium B2B clients. We have 34 partners schools, that will start implementing the project to their student on March/2021. The total number of students in theses schools are around 12 k.

Market

Our paying customers - Schools. We start on Brazilian private School market and then we will go to public Schools - There are +180 k Schools in Brazil

Our end customers - children between 10 and 16 years old - There are + 15 mi target students in this age in Brazil.

As a proxy of global market there are more than 2 Bi childrens between 0 and 14 years old in the world.

Problem or Opportunity

Financial Literacy is not taught at home or inside schools. In Brazil for example 40% of youngsters between 18 and 24 years have already had bad credit. Although financial education is present in schools curriculum since 2019, it is still present in less than 20% of schools and not in a effective or practical manner.

Solution (product or service)

We are building a gamified one stop shop financial education platform for families, which allows parents and schools to teach financial education while saving for the student's future.
This platform is more geared towards young people and brings together banking, and financial education curriculum in one environment. The platform allows parents and schools to teach financial education in a practical and funny way for their children. The main features are: a financial education course and planned lessons for teachers to teach the financial literacy curriculum inside the schools and support childrens to use the app with the use of gamification and avatars collection; family missions, where parents and children define tasks to be performed and which can be rewarded ; savings by gamified goal: children set goals to save their money for these goals, in addition to monitoring their progress and a prepaid card where the father can transfer his children's allowance and control how and where they spend the money (without the risk of the child spending the allowance in an informal economy or maxing out the credit card).

Competitors

Around the World this type of model (teen banking) has started more than 5 years ago and now that it is realizing the rewards and being more invested. Some examples from around the world: Greenlight - Focus on financial education via Banking - is already a unicorn; Current - Focus on youth banking - It has already raised US $ 52.6 million; Step - Focus on youth banlink made a recent $ 22.5 million round;
In Brazil, we have around 5 similar models, to mention 2: Blu - Solution made by a former bank executive and which has partnered with Banco Bom Sucesso, it has a simple design but fails to meet the user's pedagogical pain and Tindin: Founded by two parents who saw this problem of teaching their child financial education through educational allowance. Platform has several features, but ends up being very complex and confusing.

Advantages or differentiators

Our main advantage is that we do not see banking or the platform tool as an end, but as a means. Our path through schools gives more endorsement to the platform and increases engagement and life time value, in addition to reducing CAC and generating a self-sufficient source of revenue in the short term via B2B while scalling the long term fintech model. Once we achieve scale in this model we will created competive entry barrier, because we tied the ecosystem of schools that disseminate and evangelize the B2C fintech model.

Finance

Short term revenue - B2B2C - 99 reais/ student/year to have access to planned lessons, platform and teachers training.

Long term - Banking- SAAS - Debt card and financial platform - 3 reais/ month
+ 0,5% Total Transaction Volume.
+ fee on investment products

Project Revenue in 2025 - 42 mi reais.

Business model

Short Term:
Revenue model - Sales to Schools of our methodology - Price/Student/Year, similar to a SAAS, but also involves training and support to garantee usage.

Metrics:
- Number of students impacted
- Number of partner schools
- % of student inside the schools that download the app
- App engagement Metrics
- NPS (Teachers; Childreen; Families)

3 channels:

- Individual Schools - sales representatives
- Big schools chains
- Parnerships with education publishers and other edtechs

Long Term - Fintech SAAS and transaction fee model

- Channels:
- Viral marketing inside partner schools
- Ambassador teachers
- Digital influencers (We are closing a partnership with a big finance influencer that is global reference in this topic).

Money will be spent on

- Main goal - Product Development - Develop a complete product, that emphasises each year from 6th to 12th grades.

- 100 k to tech and product development
- 50 k to marketing and awareness
- 50 k - To other areas and expenses

Offer for investor

10%

Team or Management

Risks



Main risks:

- Regulatory: Financial Education curriculum is no longer a regulation

- Competition:

- Other competitors invest faster in a similar model with lots of cash to burn (timing)
- Big banks entering in this market and changing brands to penetrate inside the schools

Incubation/Acceleration programs accomplishment

-

Won the competition and other awards

Top 5 financial Education Solutions in Brazil - By XP Investimentos

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video