MonieWorx Encore Campaign raises ₦260 million in seven days – unlocking badly-needed capital for SMEs

• MonieWorx is the digital funding portal operated by Obelix 4.1.1 Alternative Finance Ltd.
• MonieWorx leads the securities-based regulation crowdfunding market in Nigeria.
• Seven SMEs raise 260M in 7 days; MonieWorx® made that possible

MonieWorx, the SEC regulated crowdfunding marketplace operated by Obelix 4.1.1 Alternative Finance

Ltd, a SEC-licenced Operator of regulated markets for investors and issuers of crowd securities, has closed

its Encore Campaign, raising an impressive ₦260 million in just seven days. This is a milestone achievement

for MonieWorx, its investing and fundraising partners as well as the alternate finance marketplace.

In its pioneer campaign six months ago dubbed “100-in-10”, MonieWorx successfully raised ₦100M for

three SMEs in ten days. This created a groundswell that occasioned an encore campaign during with

₦260M was raised for seven SMEs in ten days.

Three of the SMEs that listed debt securities on MonieWorx® during this encore campaign, [i.e.

Megavision Lighting Ltd, Online Health Company Ltd and Worthrust Resource Ltd] achieved 100%

subscription within six days of listing, while the other four SMEs [i.e. Beehive School Ltd, Jade & Mary

Paper Mills Ltd (trading as Cobhams Manufacturing), Sentient XT Creative Services Ltd and 8ight Unique

Global Telecoms Ltd] achieved 100% subscription a day after; bringing the encore campaign to closure in

seven days after successfully achieving 100% subscription.

This success highlights the commitment of the MonieWorx to creating a viable alternative marketplace

for investors seeking safe and viable investment opportunities and SME businesses seeking working and

growth capital.

The campaign saw the debut of GCN Crowd Notes, [priced at 19%] – a fixed income product with a cover

– that was structured in response to the feedback from the MonieWorx community of investors. Members

of this community have lost as much as ₦100 million to ponzi schemes. The design of the GCN Crowd Note

is intended to provide principal protection thus assuaging the concern and inoculating against past

trauma.

MAX Crowd Notes – the vanilla offering on MonieWorx -was designed for investors who want to optimise

their returns and was priced at 21% per annum.

In keeping with one of its unique value propositions of making every Friday a payday, it is noteworthy that

the encore campaign ended on Wednesday August 23rd and the first interest payment to investors

happened on Friday, August 25th

. Payday Friday is a sacrosanct proposition on MonieWorx®

The encore campaign attracted strong interest from Nigerians in diaspora – particularly those resident in

the US, India, Canada, the UK, China, Netherlands, Finland, Germany, Austria, and Philippines. In response,

MonieWorx engaged this audience by hosting interactive sessions on Instagram Live and X Spaces,

ensuring transparency and building the trust necessary to grow the MonieWorx community solidifying

transparency and trust as the Campaign progressed.

Adesola Adeyinka, the COO of MonieWorx, commented on the SME selection process as a critical step in

protecting investor funds and preserving the platform’s zero default record, “The screening committee

admits only established and thoroughly vetted SMEs as fundraisers. Beyond the obvious financial

screening, 360-degree references are independently obtained on both the business and its promoters to

ascertain that their characters and values are in alignment”. She added further that “in the just concluded

cohort, only a fifth of the shortlisted applicants were successful.”

The CEO of Cobham Manufacturing, Adetokunbo Balogun, had this to say: “Raising on MonieWorx is

cheaper, faster and way more convenient than raising with a traditional bank.”

A Canada-based investor, Grace Aondona, had this to say: “The essence of investing is to beat inflation,

and MonieWorx takes me closer to that goal than any other legitimate investing app in Nigeria.”

Oye Oladejo, who is a doctoral student at De Montfort University in the UK and is currently covering

MonieWorx as part of her research study on crowdfunding and alternative financing for MSMEs in Nigeria

opined: “The MonieSessions on X and Instagram were very insightful. I see that MonieWorx customer

propositions compare favourably with what obtains in other climes.”

Some members of the audience at the X Spaces MonieSessions[August 21, 2023] titled ‘Small Investments

Do Add Up: Over 50 million crowdsourced for SMEs in 2 days’ declared after the event that, “It was

engaging and insightful, with great time management. There were no rambling or boring people.”

The success of this encore campaign underscores the power of collective investing, with fundraisers

bringing their network to the marketplace, many investors from the pioneer campaign returned in a show

of trust while many small ticket first time investors took advantage of low entry ticket price of ₦1,000

with subsequent increments of ₦50 thereafter. The platform’s inclusive approach allowed a diverse pool

of investors to participate thus encouraging investment across all income levels and a renewed vigour in

the fight against keeping funds idle.

MonieWorx remains steadfast in its mission to provide SME financing and support to Nigerian businesses,

facilitating their success and growth. Its dedication to making investments accessible and profitable for

Nigerians regardless of socio-economic standing, continues to drive positive change within the financial sector