Spriggy, a Sidney, Australia-based mobile app for parents to manage their kids’ pocket money, raised $2.5m in funding.
The round was led by Alium Capital with participation from Perle Ventures and unnamed individuals.
The company intends to use the funds to continue to develop the app and expand operations and user adoption.
Co-founded by Alex Badran and Mario Hasanakos, Spriggy offers a prepaid debit card with a mobile banking app that parents and 8-18 year old kids use together. Parents can pay allowances, follow transactions and encourage saving all while young people make their own spending and saving decisions in a safe, supervised environment.
The platform already has 35,000 users.