PlayMoolah: Helping young people afford the life of their dreams

Year Founded:
Organization type: 
for profit
Project Stage:
$100,000 - $250,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

PlayMoolah is a financial transformation company that helps people build a positive relationship with money. We have created a platform for kids & parents to dialogue and learn about money. We want to inculcate good money habits to them in the hope they will be transpired to future generations.

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if we could all use money in a way that is in harmony with ourselves and the world?
About Project

Problem: What problem is this project trying to address?

What is this thing we call money that seems to have such a hold on us? How did mere pieces of paper or a bank balance become the only indicator of our success? What we don’t understand often ends up controlling us - and we are trying to change that about money.

Solution: What is the proposed solution? Please be specific!

We use games as a starting point for money conversations. We've developed a range of digital and offline games that introduce the concepts of our 5 pillars of money to children and youth. These games are safe, engaging experiences that test decision making skills around scenarios that approach real world situations. Through our games, we can see the decisions of young people changing over time. In our offline games, our facilitators lead discussions about the lessons the participants learnt and link them back to daily life. For our online games, we host community gatherings where users can discuss their learning from the games and their lives around various topics. Our hope is that these money conversations become easier over time.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

In the Moolahverse, we have a Goal Machine which is central to encouraging savings behaviour. The aim of this is to inculcate the value of money into children, who may only think it's used to buy toys. One of our users, Jun Wei, decided to save up for a PSP that cost $200, not knowing how long and how much effort it would take. As he progressed on his goal, he realised that the work he was putting in and the sacrifices that he made were not worth the passing pleasure the PSP would give him, and so he forewent the purchase! We were pleasantly surprised that this turned into a deeper teaching moment that communicated the value of money that no classroom lesson possible could have.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

To date, we have reached over 65,000 children, youths and parents with all of PlayMoolah's offerings. In the last 3 years, we have worked with 2 of the largest banks in Singapore to present a new method of financial literacy delivery to help them grow their pool of customers. In the first iteration of the Moolahverse, the campaign helped our partner bank acquire 3 new customers from every 1 licence for the game that they purchased. More than $500,000 in deposits were made in association with the Moolahverse, 60% of which were through online channels. To date, players have achieved over 4,000 real world goals and made over 1,000 charitable donations.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

Our growth strategy is to prioritise emerging markets. Our approach is to transform our existing PlayMoolah products into turn key solutions that can be easily modified and localised for varied contexts. Although the baseline for adoption of our products is the same, there are subtleties that need to be addressed in order to successfully capture the market. To begin, we are focusing on Indonesia, where we have developed a number of business relationships with a number of partners there. With the experience we hope to scale our operations to geographies with similar challenges.

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

In the last 3 years, we have partnered with 2 of the largest banks in Singapore to fund the development of our games as a way for them to acquire more customers. This year, we have also branched out to working with schools to deliver our paid programmes to their students.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

At PlayMoolah, we believe there are 3 areas of transformation in order to truly enable someone to have a positive relationship to money. We call this the head, hand and heart aspects of transformation. “Head” refers to the knowledge aspect of financial literacy. “Hand” refers to the everyday practice of good financial behaviours. Finally, “heart” refers to building confidence to enable youths to take control of their money without fear. D.R.E.A.M and MoneyThink have similar missions to us - and are doing great work in their communities - their programmes seem to target the "head" of FinLit.

Founding Story

The seed for PlayMoolah was planted in 2008, during the worst financial crisis of our generation. Our founders' world views were shaken when they saw what a drastic effect the economic collapse had on the everyday lives of people around the world. PlayMoolah was founded to address the gap in financial knowledge and positive behavior change. The company has grown since to address the root of the problem - that people's money relationships are still fraught with lack of knowledge, inaction, and fear. Now, more than ever, we are questioning the single-minded focus on progress based on greed and competition. We are redefining success. We are asking why.


Audrey is the CEO. Audrey drives PlayMoolah's company vision, business, and market strategy. Min Lee is the Co-Founder. Min orchestrates the innovation, product strategy, and partnerships at PlayMoolah. Karen Yeo is the Product Lead. Karen oversees PlayMoolah's suite of offerings Wong Bi Ying is the Marketing Lead. Bi Ying runs PlayMoolah's digital marketing and community outreach programmes.
About You
About You
First Name

Bi Ying

Last Name


About Your Project
Organization Name
How long has your organization been operating?

Organization Country
Country where this project is creating social impact
Funding: How is your project financial supported?

Friends and family, Individuals, Customers.

Awards: What awards or honors has the project received?

2011 Echelon Asia Startup Launchpad Winner
2012 SWIFT Innotribe Global Banking Innovation Startup Winner
2012 FinovateFall Financial Technology Innovation New York Finalist
2012 “Coin Catcher” Babble’s Top 50 Apps for Kids 2012
2013 APEC Forum Young Women Innovators
2014 Ben & Jerry's Join Our Core Winner

Where have you learnt about the competition?

Laina Greene

Tell us about your partnerships:
Challenges: What challenges might hinder the success of your project and how do you plan to overcome them?