Mozper has announced the closing of a $3.55M Seed round, led by Hetz Ventures with participation from F-Prime Capital, Foundation Capital, Secocha Ventures and previous investors Dux Capital and John Farrell.
This latest round brings the company’s total funding to $5.1M and comes just months after the announcement of a Pre-Seed round of USD $1.6M led by DUX Capital and angel investor John Farrell, and amongst others, including YCombinator, where Mozper was a part of their S2020 cohort.
Pavel Livshiz, Partner at Hetz Ventures, commented:
“We think that the Latin American market is a blue ocean for Fintech innovation,We were extremely impressed by Gabriel, Yael and Pablo’s ability to execute fast and bring the company’s vision of banking LATAM’s digital-first youth to an early and impressive traction.”
Gabriel Roizner, CEO of Mozper, commented:
“We are excited to bring youth banking and financial education into the Latin America market, Through using our Visa debit cards and app, children get a hands-on, real-world financial education appropriate for the digital era. We truly believe there is no financial inclusion without education.”
Mozper is bringing the weekly allowance into the digital era in Latin America, where about 70% of the population in the region has never received formal financial education, and do not have the right tools to teach their children. In Brazil and Mexico alone, parents give more than $10B each year in pocket money to kids. With a surge in digital adoption in the region and a shift of kids’ spending habits from cash to online, parents now need an easier way to give their kids digital money and be able monitor their spending while also instilling healthy money habits in their children.
