About WALO
WALO’s mission is to ensure the next generation’s financial wellbeing through a gamified financial literacy platform. The WALO app integrates with parents’ & their tweens/teens bank accounts and teaches youngsters how to become financially responsible. Our beta is available in the App Store and Google Play.
Location: Quebec City
Year Founded: 2018
Vertical: Personal Finance
Employees: 1 – 10
Website: walo.app
Social Media:
Problem
Canadians are struggling with their finances:
– 1 in 2 are $200 away from insolvency
– 1 in 3 don’t earn enough to cover their bills
A young Canadian who enjoyed financial education is 3 times more likely to spend less than they earn, save more and borrow less.
There’s an opportunity to better prepare kids for a healthier financial future by teaching them about money early on.
Ideal Customers
Consumers (B2B2C)
- Startup Pre-revenue 100%
- Startup Post-revenue $1 – $2M 0%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%
Core Benefits
Our mobile app teaches teens how to manage money through a simple, convenient and fun financial education tool using real money. The WALO app also sparks the money conversation and empowers parents to get their kids on the path to financial autonomy and raise them to become money-savvy young adults.
Key features include:
- Spend analysis – Simple transaction categorization and insights to drive awareness;
- Goals-based Savings – T(w)eens learn to save and develop healthy habits;
- Connected accounts – Track real-time spending and manage allowances on the go;
- Coins & Rewards – Our philosophy is that learning is most effective when it is fun and rewarding.
Milestones
- Joined the Desjardins Startup-in-residence program
- Finalist at the National Bank innovation competition
- Raised $175k preseed
- Released our BETA app
- In discussion with several financial institutions
Problem
Canadians are struggling with their finances:
– 1 in 2 are $200 away from insolvency
– 1 in 3 don’t earn enough to cover their bills
A young Canadian who enjoyed financial education is 3 times more likely to spend less than they earn, save more and borrow less.
There’s an opportunity to better prepare kids for a healthier financial future by teaching them about money early on.
Core Benefits
Our mobile app teaches teens how to manage money through a simple, convenient and fun financial education tool using real money. The WALO app also sparks the money conversation and empowers parents to get their kids on the path to financial autonomy and raise them to become money-savvy young adults.
Key features include:
- Spend analysis – Simple transaction categorization and insights to drive awareness;
- Goals-based Savings – T(w)eens learn to save and develop healthy habits;
- Connected accounts – Track real-time spending and manage allowances on the go;
- Coins & Rewards – Our philosophy is that learning is most effective when it is fun and rewarding.
Ideal Customers
Consumers (B2B2C)
Milestones
- Joined the Desjardins Startup-in-residence program
- Finalist at the National Bank innovation competition
- Raised $175k preseed
- Released our BETA app
- In discussion with several financial institutions
- Startup Pre-revenue 0%
- Startup Post-revenue $1 – $2M 100%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%