FamApp by Trio provides a spending account for teenagers that includes UPI and card payment functionalities, allowing users to make quick transactions without needing a traditional bank account. The platform enables parents to send money to their children while helping teens manage their finances through budgeting tools and cashback rewards.
Funding
$42.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many teenagers lack access to traditional banking services, making it difficult for them to participate in the digital economy and manage their finances independently. Existing solutions often require parental oversight or are not tailored to the specific needs and spending habits of younger users. This gap limits financial literacy and prevents teens from gaining practical experience with budgeting and digital payments.
Solution
FamApp by Trio provides a spending account and FamX card designed for teenagers, enabling them to make UPI and card payments without needing a traditional bank account. The platform allows parents to send money to their children, while also equipping teens with tools to track expenses, create budgets, and earn rewards. FamApp by Trio facilitates financial inclusion for young users by offering a secure and user-friendly environment to learn about and manage their finances. The app supports personalized QR themes and fingerprint/Face ID authentication for quick and secure transactions.
Target Audience
The primary target audience is teenagers aged 11 and above, and their parents, who are looking for a safe and convenient way for teens to manage their spending and learn about financial responsibility.
Features
- Customizable UPI ID and FamX card for personalized payments
- Fingerprint/Face ID authentication for secure and fast transactions
- Expense tracking and budgeting tools to promote financial literacy
- Cashback rewards and discounts on popular brands
- Numberless card design for enhanced security
- Option to design a personalized card with doodles
- 24/7 support team availability