Southeast Asia’s leading provider of financial literacy gameplay, The Praxis Company, announced recently that it has secured an investment from Triple P Capital (Triple P), the region’s expert financial services “profit with purpose” private equity fund. The investment is Triple P’s first and epitomizes the resourceful, and non-traditional approach of the fund, which focuses on delivering positive societal impact and top-tier investor returns.
“There is growing awareness globally that low financial literacy is a major individual, family, and societal issue that limits potential,” said Greg Martin, Group CEO of The Praxis Company. “Praxis brings the critical life skill of mastering money to life via its simulation of financial realities and ensures a fun and powerful experiential learning. Every day, Praxis engages players of all demographics to actual knowledge and action. With Triple P’s support, we’ll be able to spread the power of Praxis across the region and beyond.”
Praxis is a unique and fun gameplay experience which simulates financial challenges and inspires players to master money. It incorporates a traditional board, a trained GameMaster and audience and purpose designed gameplays to create an engaging and powerful experience.
Since the company’s launch in 2003, hundreds of thousands of people across Southeast Asia have experienced the gameplays, with internal survey results showing 99 percent agreeing that Praxis is an effective and innovative tool to learn about money management, 96 percent understanding more about savings, insurance, retirement and investment and 99 percent agreeing that Praxis is an effective lead generation tool.
Today, The Praxis Company collaborates with financial services firms, schools and universities, and corporates. Among many others, six of the Top 10 life insurers in the Philippines and two of the top four life insurers in Thailand incorporate Praxis in their businesses. Over 100 schools in Singapore have had their students play the game to give children the power to master money.
“Innovation doesn’t just happen in the digital space. In an age where there is a somewhat myopic focus on digital and online, it is refreshing to see The Praxis Company create a place for powerful, social experiences that accelerate financial literacy education”, said David Steel, a founder of Triple P Capital. “We see immense potential to grow the footprint of The Praxis Company, helping schools, financial firms, and various other organizations who understand that equipping people with financial knowledge can transform lives.”