About KAIRA Technologies Inc.

Kaira Technologies was founded in December 2018 with the ambition to give everyone, in all circumstances, better control of their personal finances in order to help them reduce their stress and anxiety and lead a better life financially. Our mission is to help people take charge of managing their personal finances to help them achieve financial well-being. Kaira’s Financial Wellness Coach comes in the form of a mobile app, which understands everyone’s attitude toward money and financial behavior. Using this information to gives personalized and proactive advice to relevant events with the aim of achieving Financial Wellness.

Location: Boucherville, QC

Year Founded: 2018

Vertical: Personal Finance

Employees: 1 – 10

Website: Kaira.ai

Social Media:

Problem

A large majority of people regularly experience stress and anxiety because of their financial circumstances, whether they are not saving enough or using credit badly, 65% of employees in North America, say they experience regular financial stress. Financial stress can result in significant costs per employee each year. Helping employees improve their financial wellness, help reduce the negative impacts of financial stress in the workplace. Financial stress doesn’t just affect the personal lives of employees, it also influences their life at work and can have a negative impact on their morale and the financial results of a business. To support this, up to 49% of employees report worrying about their finances while at work, more than 50% of workers suffer from insomnia due to their financial situation and up to 38% suffer from mental or physical problems because of their finances.

Core Benefits

KAIRA will consider the financial profile and the personal profile of the person, but also, what makes us unique, their psychological profile. It is made up of the relationship we have with money, our emotions and our cognitive biases. KAIRA will support each client in achieving their financial wellness, which is made up of 3 components:
1. Financial health (meeting current and future obligations)
2. Financial well-being (feeling in control and satisfied with the current and future financial situation)
3. Financial knowledge (acquire the skills necessary to make and repeat good decisions)

Kaira’s Financial Wellness Coach comes in the form of a mobile app. Using advanced analytics and artificial intelligence, KAIRA will personalize each user’s experience to reflect their psychological profile and behaviors with KAIRA and their banks.
The financial wellness coach:
• Address everyone’s moments of life and adapt to the relationship they have with their money
• Detects behavior and recommends personalized actions to maximize their financial well-being
• Offers tailor-made educational content
• And continuously measures their progress over time
All this by giving constant feedback and rewarding them for the actions carried out, with the aim of achieving Financial Wellness.

Ideal Customers

Consumers (B2B2C) 

Milestones

Joined the Desjardins Startup-in-residence programIn 2018, we took part in the Desjardins Coopérathon and our solution won the Finance Challenge. In spring 2019, we were selected to participate in the Fintech Cadence Ascencion incubation program. In October 2019, we participated in the Fin & Tech Summit in Bordeaux where our solution won the prize in the “solution in design” category and the public prize. Believing in our approach, the Government of Canada (via IRAP) and the Ministry of Economy and Innovation (via the call for proposals in AI innovation) have each invested $50,000. We are currently working on a project with the University of Sherbrooke for the creation of our own scale of the relation towards money. In addition, we started our Alpha testing in December 2019 and we have been in beta testing since May 2020.