Ufi Ventures invests in MyPocketSkill’s seed funding round, supporting young people to get paid for their skills and increase financial capability
Ufi Ventures, the UK’s specialist investor in EdTech for adults, invests in Gen Z Fintech company MyPocketSkill in a round to scale its Earn.Save.Learn approach.
MyPocketSkill is a tech scale-up supporting young people to become more employable and financially capable by using their existing skills and acquiring new ones, to earn money and establish savings goals. It connects young people with households and businesses to complete paid tasks, such as tutoring, social media management, music coaching, digital design and other digital tasks. In the process it delivers short financial education videos to nudge young adults towards better financial skills and behaviours. MyPocketSkill, has also partnered with the Department for Education to help deliver digital T-Levels as an opportunity for plugging the digital skills gap.
Ufi Ventures, the UK's specialist EdTech investor, helps people and businesses acquire the skills needed for work, now and in the future, by leveraging its experience in the development of vocational technology and investing its own capital in early-stage companies.
As well as Ufi Ventures, the round included investment from:
- London Business School’s E100;
- Capital Angel Network;
- SyndicateRoom's Access fund; and
- High-profile angel investors and industry veterans
Helen Gironi, Director, Ufi Ventures said:
“MyPocketSkill’s platform enables young adults to engage in work, providing invaluable experience and understanding of the benefits of employment including self-esteem, financial independence and confidence. We are delighted to support MyPocketSkill to develop the vocational skills of young people. The founders have identified an area with enormous potential at a pivotal stage in people’s careers.”
Matthew Harker, Cofounder of MyPocketSkill, said:
"We are delighted that Ufi Ventures decided to join our investment round to support us on digital T-levels specifically but also more generally in upskilling of young people. We feel very positive about digital T-Levels, where we are now established as a growth partner to the Department for Education. We are already seeing significant employer demand for T Level pathways which are building employer-ready skills and experience for young people.”
In 2020, two parents with backgrounds in tech and finance, Matthew Harker and Zara Ransley, launched the MyPocketSkill platform to address what they saw as the decline of opportunities for young adults to gain financial independence and find skilled work activities. Now, in 2023, MyPocketSkill has seen strong engagement, with almost 80,000 registered users and 20% month on month growth.
MyPocketSkill and its founders have already achieved notable success, with Zara winning the prestigious Innovate UK’s Women in Innovation award and MyPocketSkill being named as London & Partners SVC2UK scale-up and part of EY’s latest fintech cohort.