Kard offers a mobile banking solution specifically designed for teenagers, featuring a prepaid card linked to a French IBAN account that prohibits overdrafts and allows parental oversight. The platform enables parents to manage their children's spending in real-time while teaching teens financial responsibility through tools for expense tracking and savings.
Funding
$20.1M 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.
ELFounders
Product
Problem
Teenagers often lack the tools and experience to manage their finances responsibly, leading to overspending and difficulty in understanding budgeting. Parents, on the other hand, struggle to provide financial guidance while maintaining oversight of their children's spending habits.
Solution
Kard provides a mobile banking application and prepaid card designed to empower teenagers with financial literacy and provide parents with oversight. The platform offers teenagers a French IBAN account and a payment card that prevents overdrafts and is restricted at merchants selling adult products. Parents can manage their children's accounts, set spending limits, and send money instantly. Teenagers can track expenses, set savings goals, and learn responsible money management through the app's features.
Target Audience
The primary target audience is teenagers aged 6 and up and their parents residing in France who are looking for a safe and educational mobile banking solution.
Features
- Prepaid card linked to a French IBAN account, preventing overdrafts
- Parental control features for managing spending limits and blocking/unblocking the card
- Real-time transaction notifications for parents
- Teenager app for expense tracking, savings goals, and financial education
- Instant money transfers from parents to teens
- Card blocking at merchants selling adult products
- Compatibility with Apple Pay and Google Pay
- Strong authentication and data encryption for security