Ata Plus - FinSpark

FinSpark

FinSpark is a subscription-based financial education platform with the aim of making financial literacy accessible to everyone. Through their skillfully crafted content, FinSpark has successfully gained 100k users and is ready to make the move into paid knowledge subscription.

 

Campaign Closed RM 1,500,000 raised
337% Complete
337% of target0 days left
Investors318
Min Target RM 445,000
Max TargetRM 2,000,000

Introduction

FinSpark is one of the most promising financial content providers among Malaysia's youth, offering access to their financial education library, which includes videos, articles and libraries. FinSpark believes that financial education and planning should be made available to everyone. FinSpark has always focused on quality, interactive and professional content to cater for local demand in Asia. Besides, FinSpark will provide quality and affordable financial planning and products to help people in achieving their financial goal. FinSpark made their start by providing finance knowledge and managed to successfully gain 100k followers in its first 6 months, and is ready to move into the realm of paid content subscription.

By implementing the models of the "Sharing Economy" with "Paid Knowledge", FinSpark will be able to price their service at 95% lower than most of the market content providers while simultaneously providing wide range of finance knowledge to public.

By lowering the entry barrier of personal finance management, FinSpark has come out with its slogan of “Now Everyone Can Invest”.

FinSpark Team
 

What We Do

The Challenge

According to studies, Millennials make up the largest population of consumers in Malaysia and have high spending power. However, studies also show that Millennials have poor financial health as they often spend beyond their means due to their impulse-buying behaviour and lower financial literacy level.

The lack of financial literacy of younger generation has been increasingly alarming and it will result in more serious financial concern. Although 64% of working millennials save a portion of their income every month, they do not have the financial knowledge to manage it effectively or the saving is only focused on short-term goal. In order to have instant gratification, 40% of Millennials agreed that they spend more than they can afford and 47% of them are engaged in expensive credit card borrowing.

Moreover, it is hard for Millennials to improve their financial literacy on their own as there is limited financial educators, books and platforms that are affordable, accessible and interactive. Traditional financial advisors, planner and investment consultants in the market has failed to acquire the attention and trust of Millennials, result to most of the Millennials are skeptical of the professionalism of financial advisors and planners.

FinSpark Introduction

 

 

Our Solution

Enter FinSpark, a subscription-based financial knowledge content provider and online community for those wanting to expand their financial know-how. By offering access to their continuously expanding financial education library, which includes videos, articles and libraries, FinSpark introduces the solution to the lack of affordable and professional financial education resources impeding Millenials from reaching their financial goals. 

 

In order to stand out from the growing crowd of content creators, FinSpark has developed a set of guidelines and strictly practice it in their content creation to achieve localisation and provide a user friendly experience. Inarguably, most Millennials spend their time looking for information online and this has always been the channel that FinSpark uses to reach Millennials. 

FinSpark Offline v Online
 

Why Are We Different

Enjoy unlimited access to introductory & comprehensive and in-depth finance education library which includes past and new videos, articles and podcasts through subscription:

  • Useful personal finance management tools available to user on FinSpark platform
  • Affordable personal financial consultation through Finspark platform with board certified financial planner.
FinSpark Benefits

Why Invest in FinSpark

  1. Great Market Potential. There are 36.2 million people in finance education market for 3 languages in Malaysia and many more if we add up the other South East Asia Countries
  2. Scalable Business Model. FinSpark business model can be easily expanding to other countries by not only adding another language option, but engage the local educator. FinSpark also discover the most effective way to engage users in video education, the more subscription the cheaper production cost
  3. Proven Revenue Model by LearnVest.com in US and iGetGet.com in China, both are billion dollar valuation companies
  4. First Mover advantage. FinSpark is the first market player who successfully engage 100k loyal fans within 6 month from social media with firelated education video
 

Our Revenue Model

FinSpark Profit Margins

 

Content Subscription Model

There will be two subscription model available to FinSpark users: Basic Subscription plan at RM9/month and the Premium Subscription plan at RM399/year. Subscribers have access to our financial education library, which includes videos, articles and libraries. The library will be updated constantly with the latest financial topic or concerns in the region and well-known financial theory in the world.

Cost per customer, for production and marketing of content, is estimated at no more than 20% of revenue.

 

Brand Partnerships

Financial product providers pay package fees for brand association and the co-creation of content. Their brands and products will be available on our platform. FinSpark has a strict guideline on selecting partners to provide the best for our users.

 

Financial Advisor and Planning Service

There will be a team of board-certified financial advisors who are carefully selected to provide unbiased and personalised financial guidance to paid users. Moreover, the financial advisor may also design and strategise a plan based on your financial goal such as paying off debt, preparation for retirement and saving for major purchases.

 

Our Market Opportunity

FinSpark Market Opportunity

FinSpark's main target market is millennials, particularly those with low financial literacy.

Prior to its official launch, FinSpark had successfully captured 3% of the total potential market in Malaysia within the short span of 6 months.

FinSpark Market by Language

The market opportunity is huge as statistics from Ministry of Finance Malaysia has clearly shown that more than 50% of millennials are not confident in their financial literacy and most of them are still unfamiliar with the service a financial advisor can provide. Besides, the lifetime value of a millennials is longer and with FinSpark’s dedicated service, FinSpark can be a lifetime financial partner for millennials.


 

 

Our Strategy

We believe financial literacy is for everyone and that subscription-based models are the most affordable business model for users. As we develop long term relationships with users, the cost of development and production can be much lower than traditional education provider.
 

FinSpark Marketing Funnel

 

SHORT TERM

  • Partner with traditional finance product and service providers for advertisement listing

  • Launch FinSpark subscription to the existing community

  • Launch FinSpark App that offers personal money management tools for financial analysis

  • Offer content in additional languages to FinSpark platform to expand our community

  • Launch live video financial consultation or planning with FinSpark board-certified financial advisor with affordable price


MEDIUM TERM

  • Expand into Southeast Asia market, including Singapore, Thailand and Indonesia

  • Provide an unbiased platform for financial gurus/speakers

  • Launch FinSpark-exclusive technology to support our financial products and services

 

LONG TERM

  • Expand to China and wider Asia market

  • Expand to other countries by partnering with local finance speaker

  • Open up to acquisition or Joint Venture opportunities with lead financial market player(s) that share the same values and have existing user base across key markets for expansion

 

Our Valuation

 

FinSpark Valuation

 

 

Our Achievements

 

FinSpark Achievements

 

 

Usage of Funds

FinSpark Use of Funds

 

Technology - Development & Launch of FinSpark Content Product (Subscription Base)

Development of a whole new platform out from social media that contains video contents together with webpage tools. By providing on page free content, users can be attracted and convert to paid users. In the end, evolve to subscription content platform.

Working Capital - Form a larger team

Our team has been always small but when comes to more users, a larger and more efficient team is a must. New team will be mainly consists of development technician, content provider and video producer.

Operation

Talent resources and operations for new business set up: Engaging more content provider to grow our community, local content and consequently, drive sales. Basic operation of a new company.

Strengthen Sales, Marketing & Convert Customer Base

Customer Acquisition & Retention Strategies: New funds will help us engage in stronger marketing initiatives and efforts converting from social media, which has been accumulated up to 115k followers.

 

The Team

Tan Shing Yeou

Co-Founder & Chief Executive Officer

Founder of Ennovation & Shuttering Hearts Graduated in Architecture Specialist in SEO and a Digital Marketing Consultant for more than 2 years experience Various award winner for Google Partner and Facebook Advertiser

Stanley Ng

Co-Founder & Chief Finance Officer

Founder of Stanco & Co-Founder of Image Bookkeeping™ A Chartered Accountant and Licensed Tax Advisor with over 15 years experience in public practice for startups, SMEs and high net worth individuals.

Spark Liang

Co-Founder & Chief Marketing Officer

Registered Financial Advisor in Malaysia. Graduate of International Business Management Over 5 years experience specialist in public speaking, due diligence, research and risk analysis.

Term Sheet

Risk Disclaimer

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