Maslife, an AI-enhanced app that assists you with improving your health, relax your mind and take control of your finances, has raised 84% (£845,172) of its £1,000,001 target from 90 investors via Seedrs.
Here are the key business highlights:
- Beta launched May 2020, 6,500+ users. Waiting list of 28,000+
- Crypto wallet; buy, sell and hold crypto. Launching in Q1 2022
- Partnerships with MasterCard, GPS, Jumio, Thames
- UK launch Q4 2021. EU expansion (Germany France Italy) Q2 2022
London-based Maslife is focused on the Finance & Payments sectors (Mixed Digital/Non-Digital Mixed B2B/B2C). The firm reports a £21.8M pre-money valuation,
with 4.39% equity offered, and a £1.8 share price (plus, Tax relief, EIS).
Key features include: Secondary Market; Seedrs nominee min. £10.80 +; Direct investment min. £25,000.00 +.
As noted by the company:
“The WHO has stated that depression, in part caused by financial stress, could become the world’s top disease by 2030. A CapitalOne survey reported that 73% of respondents rank their finances as their most significant source of stress. The principle that health and wealth are intrinsically linked led us to create the Maslife app.”
The company added:
“The app allows users to take control of their finances while improving their state of mind and body with an array of wellbeing programmes. Using gamification and A.I., the app taps into users’ behaviour patterns as they budget, spend, exercise, and relieve stress, rewarding progress based on personal goals set in-app.”
· Budgeting tools, multi-currency accounts, debit cards, currency exchange & transfers
· Step tracker, calorie counter, guided meditation, yoga programs and more
· Exclusive rewards for in-app achievements, cashback, retail discounts and more
Maslife says that it aims to “transform the lives of millions of people by making them healthier, both mentally and financially, for a happier life.”
While sharing its monetization strategy, the company points out that it has multiple revenue streams:
- Subscription fees:
- The free Virtual account provides all financial services with a virtual card. Also, users will receive 1 month free trial of the wellbeing services
- The Plus account has a subscription fee of £4.99 p/m. It provides all financial and wellbeing services. It will come with a sustainable non-PVC debit card, has higher account limits, rewards, and lower fees than the virtual account.
- The Premium account has a subscription fee of £9.99 p/m. It provides all financial and wellbeing services. It comes with a metal debit card, higher account limits, enhanced rewards, and the lowest fees. Premium users get top-tier rewards.
- Transaction fees: margins on currency exchange, bank transfers, international ATM withdrawals, card interchange fees.
- Merchant rewards: Maslife is building out its merchant marketplace with retailers who will offer discounts via the app. Maslife will retain a percentage of the discount.
- Future revenue streams:
- Cryptocurrency exchange & payments
- Interest Margin from high interest saving account
- Collateralized crypto loans
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