My Purse offers a budgeting app that enables users to allocate their finances into daily, weekly, and monthly segments while providing interest-free overdrafts with zero fees. This platform addresses the challenge of unexpected zero balances by allowing users to manage their money effectively and access funds when needed.
Funding
Funding not disclosed
Founders
Product
Problem
Many Nigerians, including students and low-income earners, struggle with budgeting and often face unexpected zero balances, making it difficult to manage finances effectively and cover essential expenses. Traditional banking apps often have hidden fees and limited features, failing to adequately address the needs of these users.
Solution
My Purse is a budgeting app designed to help users allocate their finances into daily, weekly, and monthly segments, preventing unexpected zero balances. The platform offers interest-free overdrafts with zero fees, providing users with access to funds when needed. My Purse aims to empower users to spend smarter, save towards goals, and manage allowances effectively, all within a secure and user-friendly environment. The app also provides instant reversals and next-generation security systems to ensure a seamless and safe experience.
Target Audience
My Purse primarily targets students, low-income earners, thrifters, and parents in Nigeria who need effective budgeting tools and access to interest-free overdrafts to manage their finances.
Features
- Budgeting tools for daily, weekly, and monthly allocation of funds
- Interest-free overdrafts with zero fees
- Instant reversals for transactions
- Next-generation security and encryption
- Goal-based savings features
- Allowance management tools with auto-send functionality
- 0 NGN transfer fees within the My Purse network
- Up to 20% annual interest on savings