Teen banking fintech Pixpay raises €3.1m launch funding
French start-up Pixpay has raised €3.1 million to launch a European digitised banking solution for ten to 18-year-olds, Jane Connolly writes.
EU Start-ups reports that the round, led by Global Founders Capital, will enable Pixpay to offer the 30-million strong European teen market a modern banking option that is more than just an ATM card.
Pixpay comprises a mobile bank account, access to mobile payments via Apple Pay or Google Pay, a single payment card and a tracking app to help users monitor spending and manage their money.
There are incentives for parents too, as they will be able to set limits and controls on spending and introduce paid “missions” for children, such as household chores.
According to EU Start-ups, the solution will launch in France by the start of the next school year, priced at €2.99 per month.