- FinTech company Jassby announced it has raised $5 million in funding
Jassby, a FinTech company that is known for creating the Family Finance App, announced it raised $5 million in funding from Moneta Capital and Needham Bank. Existing investors Blumberg Capital, Correlation VC, and PnP Ventures also joined the round. Including this round of funding, Jassby has raised a total of $10 million.
This funding round will be used for driving continued growth and accelerating the company’s development roadmap as it crosses 100,000 users. Jassby is known for offering families a service in which kids can receive money from their parents and grandparents. And they can save, donate, or spend through the safe and controlled digital platform.
Jassby provides kids with what they need in the form of a digital wallet and shopping app. This helps kids become financially independent and develop good habits that connect how much they “have” to what they “want.”
To offer these services, Jassby has partnered with Needham Bank (member FDIC).
“Gen Z’ers become earners – and consumers – at a much younger age than their parents did. With vast smartphone penetration and the rise of e-commerce websites, for teens, shopping has become much easier and more accessible than ever before. Consequently, a US teenager spends an estimated $2,600 per year, while influencing another $5,000. Jassby has created a holistic digital financial ecosystem for kids, teens and their parents, which deals with the real issue of financial illiteracy, and lets kids use financial services in a very smart way.”
-Adoram Gaash, Managing Partner at Moneta VC
“Advancing financial literacy is one of our core values as well as creating a world-class platform for kids and families: one that does not rely only on plastic cards, and has no fees. We have built a cutting-edge system that allows us to partner with schools, sports clubs, and businesses to create a full Eco-System for our users. I see us adding more and more layers of services to our App and we plan on raising an additional $20M later this year, to drive us closer towards 1 million users with a year.”
-Jassby CEO Benjamin Nachman