You have been investing and securing your funds for your kid’s future. But what about teaching them more about finances and investments? In most cases, parents might overlook the importance of teaching imparting financial knowledge from an early age to their children.
But recent studies show that financial independence in children from an early age can help them become more responsible for their future. Moreover, the more they learn about money and spending, the better they get with their investment plans for the future.
Ultimately, it is all about managing your finances wisely while making no compromises with your aims and wishes. So if you are keen on teaching them banking and investments, the first name that should pop up right now in your head is akudo.
What Is akudo?
akudo is the name that aims to provide the ultimate financial independence in kids and others. It is the first Ed-fintech startup in this country that has already onboarded more than one million members. Moreover, it is the name that brings the unique concept of NEO banking for teenagers to reality.
Confused? Or many be intrigued? NEO banking refers to bringing digital banking with no physical branches and customized banking services for every user. There is no bar for registering with such banks. Moreover, these banks target Gen Z and aim to help them with debit cards for teenagers.
The one name that gives shape to these ideologies and concepts for teenagers is none other than akudo. The brand aims to empower children to learn and manage their finances in a secure environment. They offer a debit card for teenagers in India and exclusive customer-centric services to meet one’s banking requirements without any limitations.
The customer base of this company comes from different backgrounds and locations in this country. The biggest achievement of this company is to provide financial independence to all, especially the kids, and help them shape a strong future.
How Can akudo Help Your Children Become Financially Independent?
The startup already has a solid audience base in the market. 50% of the customers hail from cities like Chandigarh, Ranchi, Lucknow, Patna, etc. These users have expenses similar to those from Bangalore, Mumbai, and Delhi.
akudo already has garnered around $4.2 million in its seed round, led by Y-combinator, JAFCO, and famous Incubate India in September 2021. It aims to reach more than 5 million by the end of this year. The masterminds behind this brand name are highly focused and hardworking enthusiasts who have an increased motivation about building open financial communication between Gen Z and their parents.
According to the co-founder of akudo, Lavika Aggarwal, managing money is all about developing good habits about spending and investments from an early age. With akudo, these professionals aim to offer a safe and secured NEO bank for teenagers. In layman's terms, this brand will help every Indian parent introduce their children to the fundamental concepts of money management and financial awareness.
Wondering how akudo aims to do so? First, they resort to exclusive in-depth research about this fintech industry and studying how Indian society works. In addition, they have research and development teams that conduct prudent conversations with parents and children to understand their financial knowledge and capabilities.
Within the upcoming years, akudo aims to build an ecosystem of teenagers and parents focused on embarking on a financial journey without any worries. The brand is backed by great names like JAFCO Asia, Y-combinator, Incubate India, Lalit Keshre, etc. Together, these professionals aim to teach your kids, the future generation of this country, about healthy spending, investments, and savings without any troubles.
Highlights of akudo
You already have a fair understanding of NEO banking and how akudo brings this concept to your doorstep. Let’s check out how it aims to help your children to learn more about finances:
- Offers customer-centric banking services for all
- Customizes the services as per the user behavior and preferences
- Availability of prepaid cards for teens
- Teaching the value of money, while the account always remains under parental guidance
- Letting parents set the bar for expenses and savings
- Easy means to track regular expenses and investments
- Hassle-free banking features with minimal/no-charges
These are a few ways akudo empowers your kids to build a strong future ahead. Are you ready to start this exciting financial journey with akudo to help your teenagers gain financial independence? Check out their fantastic banking features and services today.
