In an interesting twist on traditional fintech concepts, Walrus is attempting to reach teenagers in India who increasingly have a lot more to spend, but no way to learn about the importance of savings and managing their money. The app provides a dashboard to track expenses and for sending money via UPI but also allows for requesting money from friends/relatives. It is combined with a debit card and it seems to be supported by a number of merchants.
If apps such as this also spur on the culture of teenagers earning money, either for chores at home or doing odd jobs outside, then we could see some major benefits in improving the financial sense of our teenagers.
“Walrus is banking for teenagers in India. Kids these days have high financial freedom and no way of managing money. Parents have no tools to teach kids financial education and financial habits like savings and investments. Walrus is a fintech platform which provides solution to the these problems.“
NextBigWhat profiles interesting products and startups (India + world). If you are building something interesting, submit the details here.