Delhi-based start-up digital pocket today launched a kid-focused digital pocket money app in India. Named as Junio, an exclusive mobile app for children is launched soon after the start-up raised Rs 10 crores in its Angel Round last month.
Junio is a first-of-its-kind digital pocket money app for children in their pre-teens and teens. Digital pocket is co-founded by former Paytm alumni Shankar Nath and Ankit Gera in September 2020. The aim of this app is to nurture financial knowledge and discipline in children at an early age.
Ankit Gera, Co-founder Junio said, “A child-focused payment platform is a new concept in India and a space that is unexplored. Now, as we are moving towards a cashless economy, the popularity of the digital payments space will grow more than ever before in the years to come. We are thrilled to launch a first-ever kids-focused digital pocket money app in the country. Our aim is to meet the needs of young digital natives who are inclined towards a cash free world. At the same time, we feel it is important that children learn about money management during their formative years. With the launch of Junio, we envision creating a community of financially smart and empowered young generation.”
In the first year, the start-up digital pocket targets to have achieve a monthly active base of 2 lakh Junio card users in India, and aims to have 5 million users in the coming 3-4 years.
Junio is backed by founders, angel investors and HNIs in India including Kunal Shah (Cred), Ashneer Grover (Bharat Pe), Yashish Dahiya (PolicyBazaar), Ashish Dave (Mirae), Ashish Sharma (InnoVen), Lalit Keshre (Groww), Deepak Abbot (Indiagold) and Pravin Jadhav (Raise).