The product is supposed to help parents teach children financial literacy and about saving at an early age. The product is a classic piggy bank, but with a 5.5 in touchscreen. Parents can download an app and create an account to deposit pocket money and to encourage the kids to complete chores and set goals.
GoSave has developed both the hardware and its platform, while the savings product is in partnership with banks. The fintech is currently in the pilot stage of integrating the product with different banks but noted that it can work as a standalone product too.
GoSave started out self-funded and has used Kickstarter and a small round from TechStars in Berlin to complete its pilot. With larger trials with banks going on, the company aims to raise just under USD 1 million in a larger round shortly.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now