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The platform Money254 has created a simple, fast, secure way to find and compare the best financial and insurance products.
Money is a sensitive topic the world over and in Africa especially. Growing up it was unheard of to find parents/guardians who were transparent with their children about how much they earned or the assets they had in their possession.
However, in the recent past, people have become more open to the whole idea of discussing ways to generate & maintain wealth. Understanding credit is a good step towards financial freedom, is paramount in developing capital that is used in starting a business, growing your investments, and in personal development.
“Personal budgeting is the first step that any person should make towards financial freedom. Understanding where your money is going on a monthly basis is a good way to develop a strategy that will enable you to help it grow,” shares Lorcan O. Cathain, Co-founder of Money254.
The change in money mindsets has been aided in part by the likes of innovative companies such as Money254 – who launched in April 2021. Through the platform, they are actively taking part in raising awareness about how to create a sustainable life in line with the SDG-1 that is geared towards ending poverty in all its forms everywhere.
The platform aims to remove any fear or confusion that could be associated with the fees of financial products. “We want to create a world where people have the information, access, and tools to make the most out of the money they have,” says Lorcan.
Many young people have gotten into serious trouble over the years when they take loans without fully understanding the terms and conditions. Money254 ensures that a person has all the information they need at their fingertips before making the decision to take up a particular loan. At the click of a button, a user is able to scroll through their website, search for loans, and get a list of available loan facilities together with their rates.
Money254 Making Strides
Since its launch, Money254 has over 10,000 users on its platform. Proof that people need quality information in order to make any financial decisions.
The Money254 team is focused on creating quality content that seeks to produce interest and engagement around the financial topic. It has helped them to grow their online presence and to generate quality leads with good SEO. As a result, they have also grown their social media channels which they use to get feedback from their customers about the product.
They ensure that they are very transparent with their users about what they are trying to achieve and the model they will use. Always providing information that is valuable, simple to grasp, and actionable. They are intentional about the information that they provide to their users and they ensure that it is fact-checked and the tone used is friendly and engaging.
Since people shy away from new platforms that demand that kind of information, the questions asked on the platform are generic. It puts the users at ease that their personal space is not being infringed upon.
Money254 offers comprehensive information about all the products they have on the platform. All of that is fully edited and verified with information collected from the financial institutions so as to ensure accuracy. Information is power, they want all their users to be able to make proper decisions from an informed point of view.
Launching in a Pandemic
“I was really smart to quit my job in March 2020, I thought I would still be traveling the world on this day, but here we are.” Lorcan jokes. Yet, in some way, the pandemic has been a good foundation for Money254.
Many people are spending more time online looking for financial product information while at the same time most financial institutions have allowed their teams to work from home. A perfect storm that has enabled Money254 customers to find all this information that they would have usually sorted for in person.
As we wind up, Lorcan encourages all the entrepreneurs out there to take one day at a time putting one foot in front of the other. Building a startup is daunting but doing that during covid is even worse but you just have to give it your all and keep pressing on.
“As a startup, being surrounded by other people who solve interesting problems creates a stimulating environment. The community feels makes us know that we are not alone in this journey. Being here makes coming to work every day more enjoyable.” Lorcan shares on joining a coworking space.
The future looks promising for them, they want to enable people to aggregate all their financial products and solutions in one place. “Nairobi Garage has been a stimulating working environment where our whole team has come together to work in synergy. We are moving into a private office in June, which is exciting. Besides the great balcony, what drew us to Nairobi Garage was the team and the environment,” concludes Lorcan.
Money254 is part of the many innovative companies that have joined us in the last few months at our Spring Valley location. We have Covibes Technology Limited, Hydroneo Engineering Limited, Sure Chill, Kasha Kenya, Wise & Agile Solutions, Shara Inc, Liquid Bubble, Wilson Peak, Brain Capital, and eLengo – all joining our community. Find out more about our packages and offers through our website.
