Maslife

Idea

Introduction

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 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.

Features:

· Budgeting tools, multi-currency accounts, debit cards, currency exchange & transfers
· Step tracker, calorie counter, guided meditation, yoga programmes and more
· Exclusive rewards for in-app achievements, cashback, retail discounts and more

Maslife will transform the lives of millions of people by making them healthier, both mentally and financially, for a happier life.

Substantial accomplishments to date

Since 2018, Maslife has engineered proprietary technology for a robust & scalable global platform. In the past 2 years we:

· Incorporated Aug 2018, headquartered in Knightsbridge

· Built a team of 31 experts in app dev, business consulting, blockchain, legal, compliance & marketing

· Integrated Apple & Google Health Kits in March 2020

· Developed beta platform including a full well-being section on yoga & meditation, AI personalisation, goal setting, notifications, reminders, statistics, & a fully functional banking app (April 2020)

· Signed partnership with MasterCard for multi-currency cards

· Beta platform launched May 2020 and gained over 6,000 members in two weeks

· Listened to beta testers & incorporated feedback into app development

· Built waiting list of 25,000+ registrations

· Partnered with Jumio for KYC

· Applied for FCA eMoney license, June 2021

· PR coverage in Daily Mail, Express, Fintech Times, Entrepreneur, TechTimes, BusinessLeader, Yahoo finance and Bloomberg

· Successfully closed £3m seed round Feb 21

Active work in progress:

· FCA crypto license submission Q4 21

· Expanding traditional currency accounts targeting US, Australia & APAC in line with roadmap expansion– Q2 2022

· Submission of EMI license in Australia, MSB licenses in US & MSB license in Canada Q2 2022

· Improved AI personalisation functionality Q4 2021

· Dev of Buy Now, Pay Later functionality, crypto payments & exchanges, high interest saving account (5%-12%) and open banking payment Initiative

· Enhancement of budgeting tools, partnerships & rewards

· Crypto wallet to buy, sell and hold BTC and all currencies to launch in Q1

Monetisation strategy

Maslife has multiple revenue streams:

1. Subscription fees:

a. The free Virtual account provides all financial services with a virtual card. Also, users will receive 1 month free trial of the wellbeing services.

b. 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.

c. 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.

2. Transaction fees: margins on currency exchange, bank transfers, international ATM withdrawals, card interchange fees.

3. 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 accounts

- Collateralised crypto loans

Use of proceeds

Product development:

Expand functionality with more traditional currencies (AUD, NZD, HKD, CHF), Open Banking Payment Initiation services, cryptocurrency accounts & exchange, high interest (5%-12%) saving accounts, enhanced budgeting tools, refinement of AI to create more personalised goal plans, expansion of fitness programmes (Pilates, boxercise, aerobics), nutritionist centre, enhanced rewards & gamification improving engagement and user experience.

Licenses:

Maslife will be making license applications aligned to its roadmap expansion beyond Europe (including applications for the US, Australia, and Canada), to further support the FCA e-money license.

Marketing:

For promotional material targeted at primary and secondary audiences. Funds will be used to support key influencers, paid media services, and a well-known charismatic brand ambassador.

HR:

Expansion into new markets will require additional staff, from developers to localised legal and compliance specialists, to customer service teams.