Pennybox company logo

The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

pennybox.com

Stage

Grant | Alive

Total Raised

$20K

Last Raised

$20K | 5 yrs ago

About Pennybox

Pennybox is an app that aims to teach kids about finances and savings.

Pennybox Headquarter Location

155 Clarence St

Sydney, New South Wales, 2000,

Australia

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Pennybox

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Pennybox is included in 2 Expert Collections, including Baby and Kids Tech.

B

Baby and Kids Tech

1,260 items

Companies developing tech-enabled products and services that primarily serve babies, children up to approximately 12 years old, and their parents.

F

Fintech

3,388 items

Excludes US-based companies

Latest Pennybox News

Fintech startup Pennybox is on a mission to turn kids into smart savers, savvy investors

Aug 16, 2017

Fintech startup Pennybox is on a mission to turn kids into smart savers, savvy investors Fintech startup Pennybox is on a mission to turn kids into smart savers, savvy investors Sydney fintech startup Pennybox is seeking to transform Australia’s $1.5 billion pocket money market with a new app that teaches kids financial literacy while helping them earn money for completing household tasks. Pennybox was founded by former equity analyst Reji Eapen and ex-Googler Adam Naor, who developed their app with the assistance of a $25,000 Minimum Viable Product Grant from the state government’s job creation agency Jobs for NSW. Naor spoke to Dynamic Business about his startup, including the experience of operating out of the Tyro FinTech Hub in Sydney’s CBD. Elevator Pitch: Pennybox is a free mobile app that draws parents and their kids together for financial education. It’s an important topic, which is often neglected at school, and we want to empower kids AND their parents to learn the basics, together. Pennybox facilitates hands-on learning and enables kids to earn money for completing tasks, such as school work or jobs that their parents approve. The app was built for iOS first but we will expand into Android in the future. Origin story: Reji worked in finance and I worked in education technology as a team lead at Google – this involved helping schools across ANZ evaluate and deploy Google technology for their classrooms. I saw firsthand that schools were not covering financial education – and decided I wanted to use technology to help address this problem at scale. Reji’s background compliments mine – he has deep experience working in the banking space and saw firsthand how many people lacked basic financial education and skills. After becoming friends in Sydney, we spoke for years about building a company before deciding to start one together. We talked about the idea for Pennybox for a long time with parents, educators, and advisers before resigning from our jobs to pursue it full time. Addressable market: Learning how to work for and save money is important for all people, across different countries and culture, and thus the financial education we’re facilitating with our app has global relevance. We released the app in all regions from Day 1 to try and help as many kids and parents as possible. We expect our biggest markets will be the US and other English-speaking countries but we are also seeing lots of interest in emerging markets. Ambitions: We are working hard to make Pennybox a tool that is useful for kids and parents and that can add value to them in the home. Our broader vision is to be the source of financial education for all families as they seek to teach their kids about how to think critically and holistically about money. Right now, that means earning and saving money, but we are already working on the next layer – helping kids to understand investing, smart spending, and donating. To read more, please click on the link below…

  • Where is Pennybox's headquarters?

    Pennybox's headquarters is located at 155 Clarence St, Sydney.

  • What is Pennybox's latest funding round?

    Pennybox's latest funding round is Grant.

  • How much did Pennybox raise?

    Pennybox raised a total of $20K.

  • Who are the investors of Pennybox?

    Investors of Pennybox include Government of New South Wales.

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.