Mozper is a digital financial education platform designed for children and managed by parents that work with a mobile application and a debit card.
Financial education is one of the engines of economic and social development. Making the right financial decisions can improve the quality of life of people and also that of future business. For that reason, teaching children to be careful with money is an important thing.
However, how do you teach your children to be careful with money? In Mexico, 70% of the people have never had a 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 Mozper. This Mexican-Uruguayan startup helps parents to educate their children to make smart and responsible financial decisions.
“Having the right tools for financial education makes all the difference for success,” say the entrepreneurs. “Much is said in the region about offering products for the unbanked sector, but little or nothing about products for the pre-banked. Therefore, it is important to consider the complexity when offering services for youth since there are two inseparable audiences: parents and children ”.
With Mozper, parents and children have two different and complementary experiences in the same app. As parents manage their children’s financial activities, young people learn the basics of money management by becoming financially responsible.
The startup reached an agreement with Visa for the platform to be accompanied by a debit card with a contactless payment technology that parents or guardians manage. Also, it has Toka Internacional as its sponsor bank.
Luz Adriana Ramírez, general director of Visa Mexico, said that for Visa, collaborating with startups and fintechs allows offering disruptive solutions. “This innovation allows us to empower young people, digital natives and take advantage of technology solutions to improve the scope of financial education, inclusion, and digital transformation of our country,” he added.
What can you do with Mozper?
- Deposit your children on Sunday.
- Create custom spending rules by categories (food, travel,
- video games, transportation, etc).
- Assign homework and reward the children’s efforts (mowing the lawn, cleaning the room, taking care of the little brother, etc).
- Set savings goals.
- Control your children’s expenses and receive notifications in real-time when a transaction is made and monitor their available balances at all times.
- Choose where the children can spend, creating personalized rules for areas (entertainment, school, free expenses, etc).
Along with its launch in Mexico and its announcement of a collaboration with Visa, Mozper raised capital of 1.55 million dollars through various investors, including Y Combinator. He hopes to expand to Brazil soon.