Mozper is a parent-managed digital financial education platform for children that works with a mobile application and debit card.
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How do you teach your children to be careful with money? Did you know that financial education is one of the engines of economic and social development? Yes, making the right financial decisions can improve the quality of your life and that of a future business as well.
In Mexico, 70% of people have never had any financial education and this situation is repeated in other Latin American countries. Gabriel Roizner, Yael Israeli and Pablo Klestorny observed this situation and decided to create it Mozper, a Uruguayan Mexican startup that helps parents raise their children to make smart and responsible financial decisions.
“Having the right tools for financial literacy makes all the difference to success,” say the entrepreneurs. “A lot is said in the region about offering products for the non-banking sector, but little or nothing about products for the pre-banking sector. It is therefore important to consider the complexity of providing services to young people as there are two inseparable target groups: parents and children. “
With Mozper, parents and children have two complementary and different experiences in the same app. While parents manage their children’s financial activities, young people learn the basics of money management by becoming financially responsible.
Gabriel, Pablo and Yael, founders of Mozper. Photo: Courtesy
The startup has agreed with Visa that the platform will be accompanied by a debit card with contactless payment technology that will be managed by parents or legal guardians. It also has Toka Internacional as a sponsoring bank.
Luz Adriana Ramírez, General Manager of Visa Mexico, said working with startups and fintechs enables Visa to deliver disruptive solutions. “This innovation enables young people and digital natives to leverage technology solutions to improve the scope of financial literacy, inclusion and digital transformation in our country,” he added.
What can you do with Mozper?
- Deposit your children on Sunday.
- Create custom spending rules by category (food, travel,
- Video games, transportation, etc.).
- Assign homework and reward the children’s efforts (mowing the lawn, cleaning rooms, taking care of little brother, etc.).
- Set savings goals.
- Control your children’s spending and receive real-time notifications when a transaction is in progress and monitor available funds at all times.
- Choose where the kids want to spend and create personalized rules for areas (entertainment, school, free spending, etc.).
Along with launching in Mexico and announcing its collaboration with Visa, Mozper raised $ 1.55 million in capital through various investors including Y Combinator. He hopes to expand into Brazil in the near future.