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UAE neobank Edfundo launches to show kids monetary literacy

A brand new neobank geared toward kids and teenagers has launched within the United Arab Emirates with the purpose of instructing monetary literacy from an early age.

Edfundo was based by Simon Wing and Andrew Towards

The Edfundo app permits mother and father to prime up their youngster’s card, set spending guidelines, see what their youngster spends and the place and immediately block or unblock playing cards at any time.

Dad and mom are additionally in a position to make computerized allowance funds and switch cash in real-time.

The app was created by academics and provides a kid-friendly spending answer and budgeting instruments to encourage monetary literacy.

Edfundo says it’s on a mission to assist 8 to 18-year-olds grow to be financially literate and discover ways to handle their funds early of their growth.

Primarily based in Dubai, the start-up was based by Simon Wing (CEO) and Andrew Towards (COO).

Wing says: “It’s time to shut the hole in monetary literacy training for our youngsters.”

The wealthtech provides it is going to be working with faculties to supply workshops, assets and academic content material to assist increase the profile and enhance the standard of instructing round monetary literacy.

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