Gen Z Fintech MyPocketSkill secures equity funding to scale its Earn.Save.Learn approach and address financial skills gaps.
London, 29th March 2023
MyPocketSkill is an award-winning tech company with a vision to create a financially empowered Gen-Z. The tech scale-up supports young people (13-22) to earn money, establish savings goals and become more employable and financially capable. It creates earning opportunities for young people by connecting them with households and businesses to complete paid tasks such as tutoring, social media management, music coaching, digital design and other digital tasks. In the process it enables them to set up savings goals and delivers short financial education videos to nudge teenagers towards better financial skills and behaviours.
This round takes MyPocketSkill’s capital raised to £1.2m (including non-dilutive sources) and includes investment from:
A second round of funding is also expected to conclude within the next few months.
“At MyPocketSkill we are passionate about supporting young people to develop the skills to become employable and the financial habits to become financially capable, which often go hand-in-hand. Our goal is now to reach over a million young people in the next three years and this funding puts us well on target for that.“
"MyPocketSkill stood out for us because it provides a unique end-to-end solution for GenZ young people, solving at once a number of difficult to tackle problems– employability and financial education, while bringing much needed skills to small businesses and families. What they have built will have a big impact in the future but we were also delighted with the traction to date, which has translated to significant revenues as well as user numbers. What we really liked is that they have done so cost-effectively, their cost of acquisition is low and they are scaling fast. We are very impressed with Matt and Zara, who make an excellent balanced team with a lot of relevant experience in this space and we are very supportive of them."
In 2020, two parents with backgrounds in digital technology and finance, Matthew Harker and Zara Ransley, launched the MyPocketSkill platform to address the decline of opportunities for teenagers to gain financial independence and employability skills.
Now, in 2023, MyPocketSkill’s earning and saving platform has seen impressive growth, with almost 80,000 sign-up users, 20% month-on-month growth and generating platform and contract revenues. MyPocketSkill and its founders have already achieved notable success, with Zara winning the prestigious Innovate UK’s Women in Innovation award and MyPocketSkill being named as London & Partners SVC2UK scale-up and part of EY’s latest fintech cohort.
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Press coverage
Mountside Ventures: https://medium.com/mountside-ventures/mypocketskill-closes-seed-round-to-empower-gen-zs-2a461792794c
Capital Angel Network: https://www.linkedin.com/posts/can-london_mypocketskill-closes-seed-funding-round-activity-7047593942111920128-AAFE?utm_source=share&utm_medium=member_desktop
Tomohisa Yamamoto: https://www.linkedin.com/posts/activity-7047617128492843008-1pw9?utm_source=share&utm_medium=member_desktop