A technology company founded by an African in Diaspora, has raised US$200,000 for the launch of its digital learning-focused social e-marketplace,MySimax Club.MySimax Club, which is a merit-based e-platform for African students, enables registered members of the club to give and receive Commendations and Stars based on the importance and relevance of their blogs, articles and contents and the level the Club’s values werepromoted among peers by any member.
The rewards gained from Commendations received or given can be converted to Mysimax Club’s currency, My$ and used to buy books, magazines, syllabus, electronics, home appliances and so on, with members able to top up their balance using cash.While Commendations are given and received from peer to peer, Stars, which are also rewards, can only be given based on Mysimax’s values and how a member performs during his/her Gig and at University.
Aside Commendations and Stars, members can also gain rewards through Recognition from the Top as well as Good Vibes credit.
MYSIMAX raised the funds from a former Director of e-commerce platform, Alibaba, who said,“Coming from my background, when I saw MYSIMAX’s demo and the team behind it, it was rather too easy to foresee how far it could go andthe impact it could have on people,”The investor, who wishes to remain anonymous, further said,“It is disruptive and I like it! So I wanted to be one of the first to invest in what canbecome a social Alibaba for Africa.
It’s very exciting.”The funds will be used to support the setup of theplatform and partnership building with content providers for the platform, which is set to launch on September 15, 2015.Mysimax, which is headquartered in Shanghai, China, was founded in 2013 by French-Togolese J. X. Paulin to fight knowledge poverty in Africa through digital means.Y
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