Today, the company is announcing it has raised an additional $35 million in what CEO and co-founder Jason Rosen is describing as “strategic financing.” Part of that money will go toward spinning out the Prism Data unit of its business into an independent company. Rosen will serve as CEO of that new entity as well, which has about 10 employees, while Petal has about 140.

Read more: TechCrunch

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Today, Slash — which is FDIC-insured via Piermont Bank, its partner bank — offers something of a hybrid business/personal banking product that allows users to silo their personal and business funds but manage them from a single dashboard. Customers get two Mastercard-branded debit cards and see two transaction feeds, with controls for whitelisting — or blacklisting — merchants for purchases.

Read more: TechCrunch

The post Slash aims to corner the Gen Z market with business-focused banking features appeared first on FinTech Ranking.

Communication is key

The main way that you can monitor what your child is doing with their money is through good communication. If you create an environment of trust and understanding then they will likely be open and tell you about everything, even if they made a mistake. This is not only important for this specific situation but in general, should be something you are aiming for. It will greatly help their mental health to know that they have the trust of their parents and your relationship with your kids will be massively improved.

Of course, even in a trusting environment, you should still have backups available and other ways that you can monitor what’s going on, but this is the healthiest thing that you can do and is incredibly important for any healthy parent-child relationship. We can say with certainty that if you manage to create a space filled with trust in your home that everything will be easier down the line than it would be otherwise, as the chance of your child hiding something from you in the first place will be far lower.

Kids cards

One of the most useful modern tools that can be used for parenting and specifically for teaching finances is debit cards for kids. They can massively help both with monitoring and guiding your kids when it comes to spending. An important aspect is that they give your children a sense of independence which psychologists say is incredibly important, especially with teens. It will massively improve their mental health while also still allowing you to keep them safe and monitor everything that’s going on.

They come with various apps and tools that allow you to keep an eye on everything, set daily limits, disallow spending on certain sites, and many more things. The level of control that you have is massive, but it also makes it so that the control is discrete so that your child doesn’t feel as if there is someone breathing down their neck all the time. It’s in our opinion the perfect combination of both worlds and when utilized properly is one of the most useful tools that parents can use today to teach their kids proper finances. 

Games are a great option

If your kids are still relatively young then making up certain games and playing with them can also be an incredibly effective method of teaching them these various lessons. It takes a decent bit of creativity to come up with one, but we’re certain that, when utilized properly, can very quickly teach your kids things that they otherwise may not be interested in due to finding them boring or not important.

At the end of the day, it’s also great that you can teach your kids while still spending quality time with them and simply enjoying the fact that you can have a blast together. This method is great if for example you have a lot of work lately and are struggling to find enough time to both teach them everything that you think they should know and also play/spend time together. If you can’t find time for both then combining them together can make up for that in a great way.

Conclusion

It’s 2023 so parents have a large number of different options for teaching their kids life lessons, though choosing which one to use has become harder due to this fact. We recommend trying them all out and seeing what works best for your family as everyone is different and the same approach won’t work equally well with two different people. We wish you and your kids the best of luck.

The post Ways to Monitor and Guide Your Child’s Spending Habits appeared first on FinTech Ranking.

And today, the company is announcing it has raised $8 million in an “oversubscribed” Series A round of funding led by Magma Partners. It secured $3.7 million in a seed round, and about $20 million in debt from Accial Capital at the end of 2021. Previous investors Alpha4Ventures, Noa Capital and Pomona Impact also participated in the Series A round, along with new backers Redwood Ventures and U.S.-based Rebalance Capital. 

Read more: TechCrunch

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The Curve Flex product allows customers to split any transaction they’ve made with Curve – at any merchant, using any card, anywhere in the world – into monthly instalments. This uniquely flexible feature allows Curve’s customers to be more responsible with their cash flow while reducing their borrowing costs. Flexing a Curve transaction smooths a larger payment over time, can put cash back in a bank account if needed, and provides a convenient way to pay off their credit card balance.

Read more: PRNewswire

The post Curve Secures $1 Billion Deal from Credit Suisse appeared first on FinTech Ranking.

The equity funding is coming from previous backers Edison Partners and Revaia (formerly Gaia), with a strategic investment from Italian payments company Nexi, a new backer.

The company is not disclosing its valuation but TechCrunch understands it’s more than $250 million and less than $500 million. It brings the total raised by GoHenry (named, the company says, after its first child-customer) to $125 million, including a $40 million round led by Edison in 2020 and a $15 million angel round. 

Read more: TechCrunch

The post GoHenry, the fintech for under-18s, raises $55M appeared first on FinTech Ranking.

To execute on that vision, Pomelo has raised a $20 million seed round led by Keith Rabois at Founders Fund and Kevin Hartz at A* Capital, with participation from Afore Capital, Xfund, Josh Buckley and The Chainsmokers. The round also included a $50 million warehouse facility, which will allow Pomelo to give upfront cash to people who want to make transfers.

Read more: TechCrunch

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SmartBank wants to enable anyone to manage finance, “from everyday spending to planning for the future” by offering its digital finance management service B/43, which is a Visa prepaid card and personal finance management app.

Read more: TechCrunch

The post Japan’s SmartBank raises $20M Series A for its prepaid card and finance app appeared first on FinTech Ranking.

Founded out of London back in 2012, GoHenry has emerged as one of the preeminent fintech companies for children, targeting six to 18-year-olds with a digital platform that allows parents to allocate and control funds, while their children learn how to budget and gain insights into their spending habits. GoHenry expanded into the U.S. back in 2018, and today the company claims more than two millions users across these two markets — it also says that one-sixth of 12-year-olds now have a GoHenry debit card.

Read more: TechCrunch

The post Kids’ finance startup GoHenry marches into Europe with Pixpay acquisition appeared first on FinTech Ranking.

Fidor Bank is a digital bank headquartered in Germany. Founded in 2009, the bank aims to provide a world-class user experience to its retail, corporate and institutional customers.

Read more: Zwipe

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