Mozper, a Mexico-based debit card and mobile app designed for kids and parents in Latin America, announced on Monday it secured $3.55 million through its latest seed funding round, which was led by Hetz Ventures with participation from F-Prime Capital, Foundation Capital, Secocha Ventures and previous investors Dux Capital and John Farrell. The investment round comes just three months after Mozper made its debut in Mexico and it brings the company’s total funding to $5.1 million.
Founded in 2019, Mozper describes itself as a debit card and app designed for kids and parents in Latin America.
“We let parents give their kids an allowance and set spending rules so they can’t blow it all on video games. Parents can also assign chores, and track savings goals. In this way, children get a hands-on, real-world financial education appropriate for the digital era.”
While sharing more details about the company’s development, Gabriel Roizner, CEO of Mozper, stated:
“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.”
Speaking about the investment, Pavel Livshiz, Partner at Hetz Ventures, further noted:
“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.”
Mozper went on to add that the new funds will enable it to further expand into the Mexican market, where they launched three months ago, and expanding into Brazil in 2021.