Current wants to digitize your kid’s allowance with an app and a debit card

Who carries close to cash anymore? The response? Moms and dads, who continue to need to have to hand out allowance and pocket money to their little ones.

Which is wherever Present comes in.

Present is the newest enterprise out of Expa, and was constructed by Stuart Sopp. Sopp informed TechCrunch that he constructed Present out of a personal need to have — he has a seven-calendar year-previous daughter who often would like to make buys on-line but (of course) just can’t have her possess credit history card.

Until now.

Present allows mom and dad indication up for an account on-line and place in their kid’s data. They then get a debit card for their little one that is funded completely from the parents’ lender account, and is recognized any where VISA is recognized.

This allows mom and dad allocate allowance straight from their lender account, and also allows little ones find out about economic duty with the payment system they’re very likely to use as an adult, a credit history card.

Present tends to make money by charging mom and dad a subscription price of $3/month for each kid.

Along with the expending account hooked up to the kid’s debit card, Present also delivers a Cost savings account and a Providing account, wherever little ones can place apart cash for their long term or give to the charity of their choice. Present is doing work on setting up in mother or father accessibility controls to the app so they can set apart personal savings, as effectively.

Present just shut a $3.six million seed spherical led by Expa and Human Ventures, with participation from Potential Fantastic Ventures and other folks.







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