{"id":26178,"date":"2022-02-25T18:15:38","date_gmt":"2022-02-25T12:45:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/akudo\/"},"modified":"2022-02-25T18:15:38","modified_gmt":"2022-02-25T12:45:38","slug":"akudo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/akudo\/","title":{"rendered":"akudo, India&#8217;s First Ed-fintech Startup, Registers 1 Million Members on its Platform"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-831733600\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Bengaluru, Karnataka, India (NewsVoir)  \u2022  50% of the users from Tier 2 cities &#8211; Patna, Lucknow, Indore, Ranchi  \u2022  Records a 100% MoM growth in the last five months  \u2022  Plans to reach 5 million+ households by the end of 2022    akudo, India\u2019s learning-first neobank for teens, announced a staggering 500% increase in its registered user base in the last 5 months. The start-up has registered 1 million users on its platform, empowering teenagers to make financial decisions in a safe and controlled environment.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3423479478\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> akudo\u2019s user base showcases how smaller cities and towns are also adopting tech solutions for personal finance. 50% of the 1 million users are from Tier 2 cities such as Patna, Lucknow, Indore, Ranchi, and Chandigarh with monthly spends equal to users in Tier 1 cities like Bangalore, Delhi, and Mumbai.<\/p>\n<p> In September 2021, the start-up raised USD 4.2 million in its seed round led by Y-combinator, JAFCO, and Incubate India, to name a few. The start-up aims to reach more than 5 million households by the end of 2022 with an increased focus on building open financial communication amongst parents and children.<\/p>\n<p> Commenting on the positive growth numbers, Lavika Aggarwal, Co-founder, akudo, said, \u201cJust like acquiring a skill, developing positive habits around money is easier when you\u2019re young. At akudo, we have created innovative practical and theoretical ways to introduce teens to the fundamental concepts of financial awareness and money management.<\/p><div class=\"trade-content_5\" id=\"trade-3905787249\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Research shows that we form most of our basic money habits by a very young age whereas, in the real social context, we only develop any money management skills when we\u2019re an adult trying to manage our own finances. We are trying to leverage tech to build a community of parents and children that will have more prudent conversations and actions towards their finances to be financially responsible adults in the future. This tremendous growth is a visible indicator that we\u2019re going in the right direction. Hopefully, we can reach more households in the coming years.\u201d   akudo is helping teenagers start their journey to financial independence through their prepaid Visa card accompanied by family-friendly controls and oversight. The app also has a section dedicated to financial goal setting, savings, and a gamified rewards system to encourage teens to build healthy financial habits. The start-up has customers between the ages of 11 &#8211; 18 years using their prepaid card to utilise pocket money or spend on daily expenditures.<\/p>\n<p> About akudo  akudo is India\u2019s first ed-fintechstartup focused on teenagers. The fintechstartup aims to build an ecosystem of guardians and children where teens can make financial decisions in a safe and controlled environment. With 1 million registered users, akudo is pioneering learning first banking in India by introducing teens to banking and helping them build healthy spending and saving habits. Backed by leading investors such as Y-combinator, JAFCO Asia, Incubate India, and angel investors like LalitKeshre, Co-founder, Groww to name a few.<\/p>\n<p> Image: From Right to Left: Sajal Khanna, Lavika Aggarwal, Jagveer Gandhi; Co-founders    PWR PWR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2856635654\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Bengaluru, Karnataka, India (NewsVoir) \u2022 50% of the users from Tier 2 cities &#8211; Patna, Lucknow, Indore, Ranchi \u2022 Records a 100% MoM growth in the last five months \u2022 Plans to reach 5 million+ households by the end of 2022 akudo, India\u2019s learning-first neobank for teens, announced a staggering 500% increase in its registered [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-26178","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>akudo, India&#039;s First Ed-fintech Startup, Registers 1 Million Members on its Platform - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/akudo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"akudo, India&#039;s First Ed-fintech Startup, Registers 1 Million Members on its Platform\" \/>\n<meta property=\"og:description\" content=\"Bengaluru, Karnataka, India (NewsVoir) \u2022 50% of the users from Tier 2 cities &#8211; 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