MonieWorx Encore Campaign Raises ₦260 Million in 7 Days - funded 10 SMEs in 6 months

• MonieWorx is the largest membership and most active securities crowdfunding platform in Nigeria.
• Recent funding round raised significant capital for seven SMEs in seven days.
• MonieWorx is the poster child for leveraging Africa-originated crowd securities to facilitate online capital formation.

LAGOS, Nigeria, Aug. 29, 2023 /PRNewswire/ -- 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.

Obelix is an investment-based regulation crowdfunding intermediary incorporated in Nigeria on August 1, 2021, and the operator of a debt-based funding portal branded MonieWorx. The company is licensed under the Investments and Securities Act (ISA) and is regulated by the Securities and Exchange Commission (SEC) of Nigeria effective December 1, 2022.

Its stated objective is to orchestrate an economic exchange and multilayered ecosystem of new sustainable opportunities in Africa. For more information on Obelix's journey, please visit https://monieworx.com/ or connect with us on social media (handle: our_monieworx), where the most promising SMEs and like-minded investors learn from and support each other, which gave birth to MonieWorx tagline of "People Investing in People."

Obelix is widely recognized as the pioneer of regulation crowdfunding (Reg CF) and the SME-focused financier of first choice in Nigeria. Crowdfunding is proving itself as a financial solution that speaks to the largest numbers through its simplicity, its transparency, and the service it provides to the local economy and to projects that are meaningful for retail investors.

Historical results are not indications of future results. Certain of the statements contained in this news release may be statements of future expectations and other forward-looking statements that are based on Obelix's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.

The forward-looking statements contained in this announcement speak only as of the date hereof. Obelix expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking information contained in this announcement. Certain information was obtained from

sources that it believes to be reliable; however, Obelix does not guarantee the accuracy or completeness of any information obtained from any third party.

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