New Delhi: Junio, a smart card for children’s pocket money, has raised $1 million from a clutch of angel investors, including Cred founder Kunal Shah, BharatPe CEO Ashneer Grover and Policybazaar's Yashish Dahiya.
The app, which will launch in mid-February, allows children to make physical & online purchases using digital pocket money. It will allow parents to track their kid's spending and create in-app daily tasks for their kids and tie them with perks. The company is targeting kids between Class 4 and Class 10 and aims to onboard 2.5 million users in three years.
Junio plans to utilise the funds to develop the product, bolster its team and customer acquisition initiatives, and expand its business footprint across cities in India. “In the months ahead, we will focus on building an intuitive, user friendly product along with sustainable customer acquisition initiatives,” co-founder Ankit Gera said.
The New Delhi-based startup was co-founded by Paytm alumni Shankar Nath and Ankit Gera in September 2020. They seek to digitise pocket money for children while nurturing financial knowledge and discipline in them at an early age, according to a company statement.
The app, which will launch in mid-February, allows children to make physical & online purchases using digital pocket money. It will allow parents to track their kid's spending and create in-app daily tasks for their kids and tie them with perks. The company is targeting kids between Class 4 and Class 10 and aims to onboard 2.5 million users in three years.
Junio plans to utilise the funds to develop the product, bolster its team and customer acquisition initiatives, and expand its business footprint across cities in India. “In the months ahead, we will focus on building an intuitive, user friendly product along with sustainable customer acquisition initiatives,” co-founder Ankit Gera said.
The New Delhi-based startup was co-founded by Paytm alumni Shankar Nath and Ankit Gera in September 2020. They seek to digitise pocket money for children while nurturing financial knowledge and discipline in them at an early age, according to a company statement.