Indian Kids-Focused Fintech Platform Junio Has Raised Seed Capita
Junio, an Indian children-centered fintech platform, has raised a seed round from Kunal Shah. The company also plans to continue raising a total of $1 million from First Check and several individual investors, according to the sources. It is understood that Junio has been in talks with First Cheque for a while and the contours of the deal have already been finalized, which will take place in the next few weeks.
Founded by former Paytm senior vice president Shankar Nath along with Ankit Gera, Junio would act as a credit card and impart financial discipline to children, allowing them to make online and physical purchases. It's worth noting that the app enables parents to control Junio’s smart cards through the app. Not only that, Junio would enable instant fund transfer, and the flexibility to cancel the card at any moment through the app. However, Junio is yet to launch its Android and iOS apps.
Junio would compete with FamPay and Walrus. FamPay had raised $4.7 million in a seed funding round from Y-Combinator, Sequoia India, and Global Founders Capital whereas Walrus got backing from Better Capital and a few individuals.
For now, fintech solutions focused on children and teens are still in their infancy in India, but several startups in the U.S. and the West have made good headway. Greenlight, for example, is one of the largest firms with a unicorn status, while Paris-based PIXPAY is working on kids-focused banking solutions.
OTHER NEWS
-
- Fleets: Twitter Launches Disappearing Tweets Tool
- By Emily 24 Apr,2023
-
- The upcoming asteroid is closer than the moon
- By Wanda 24 Apr,2023
-
- PlayStation 5 Trophies May Be Updated, Players May Have More Rewards
- By Alan 24 Apr,2023
-
- Python surpassed JAVA in the TIOBE rankings for the first time
- By Robin 24 Apr,2023
-
- Amazon India Launches Step
- By Wilson 24 Apr,2023
-
- Facebook Hopes the Digital Currency Diem and Digital Wallet Novi Will Launch in 2021, Top Exec Says
- By Lois 24 Apr,2023
-
- Data Report - 2020 Global Gaming Industry Acquisitions Reached $19.24 Billion
- By Clarke 24 Apr,2023
-
- Top 10 Game Developers of 2020 (II)
- By Cooper 24 Apr,2023
-
- After Spotify, YouTube Music Launched a Personalized Playlist‘My Mix’
- By Irene 24 Apr,2023
-
- Fortnite: Top up and Get 2 Months of Disney+ Service for Bonus
- By Julie 24 Apr,2023
-
- Saudi Arabia’s SAMA Opening-Up Policy Is Conductive to E-Commerce Development in the Middle East in 2021
- By Hall 24 Apr,2023
-
- Virtual Reality Therapy Can Help People Cope with Eating Disorders
- By Pamela 24 Apr,2023