NG.CASH operates as an authorized payment institution, functioning as an electronic money issuer regulated by the Central Bank. The company serves as a banking correspondent for processing payments related to bills, consumer expenses, and taxes. Additionally, NG.CASH facilitates the offering of specific credit products through partnerships with established financial institutions.
Funding
$24.7M 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
Gen Z often lacks access to traditional banking services and the tools necessary for developing financial literacy. Existing solutions may not cater to their specific needs, such as ease of use, mobile accessibility, and features that promote responsible spending habits.
Solution
NG.CASH is a digital banking platform designed to empower Gen Z with financial independence through a user-friendly mobile app. The platform provides a prepaid virtual card that can be used for online purchases, along with peer-to-peer payment functionality for easy money transfers between friends. NG.CASH aims to foster financial literacy by providing a secure and accessible environment for teenagers to manage their finances, make informed decisions, and develop responsible spending habits, all while allowing parental oversight.
Target Audience
The primary target audience is Gen Z individuals, particularly teenagers, and their parents who are seeking a safe and educational platform for managing finances.
Features
- Prepaid virtual card for secure online transactions
- Peer-to-peer payment system for easy money transfers
- Mobile-first design with an intuitive user interface
- Educational resources and tools to promote financial literacy
- Parental control features for monitoring and guidance
- Integration with PIX for instant payments
- Option to personalize the NG.CARD with a custom name