The Ray of Hope Initiative Limited (Ray of Hope) was founded in 2012 by Hedge Fund Manager, Danny Yong, along with co-founders Keith Tan and Mark Wong. Often when they read the news, they would read about incidents where families became affected when certain individuals or families suffered sudden crises, one of which involved Mr Egan Karuppaiah, who got attacked in 2010. As a result, he became handicapped and had issues with providing for his family (Find out more here). Mr Yong and Mr Tan wanted to help Mr Karuppaiah and his family but did not know how to contact them. Eventually, he failed to provide any form of help to the family.
A second incident involved Mr Mogan Panjanathan, who encountered a freak accident in 2015. His family, consisting of his widow and four children, received help from the community and received close to a million dollars. Shortly after, the money was squandered away, leaving no proper accountability to donors (Find out more here). Donors were angry, but could not take further action because there were no formal statements as to how the money was to be used by the family.
These two incidents led Mr Yong to think about a reliable and accessible platform that can gratify the needs of both potential donors and people in need of financial assistance. Therefore, Ray of Hope was set up with the motto of “Helping YOU help”, which provides Singaporeans with the opportunity to help others who are living in Singapore.
To-date, with a team of four people, Ray of Hope have provided aid to more than 300 familes, with amount totaling to more than S$650,000.