In today’s world, financial education is essential, yet many people lack the knowledge and skills to manage their finances effectively. This is especially true for young people, who are often excluded from traditional financial education. Finstep, a German startup, seeks to change that by empowering the younger generation with practical financial skills.
A New App for Young People
Finstep’s mission is to help young people between the ages of 12 and 18 become financially literate and achieve their personal goals. The startup has developed its own mobile app that can be described as a mixture of Duolingo and Kurzgesagt. The app delivers practical financial knowledge to young people through entertaining, animated short videos.
Learning by Doing
Finstep’s app provides short videos on a variety of financial topics, from earning extra money at a young age to taxes, insurance, and more. The knowledge acquired is reinforced through quizzes and challenges. A reward system increases the incentive to learn, helping to ensure that young people acquire practical skills and are motivated to apply them.
Preparing for Market Launch
Finstep was founded in Hamburg at the beginning of 2022 and quickly closed a six-figure angel investor round. A prototype of the app was made available to a test group of over 100 users. Currently, the seven-member team is preparing for the official market launch, which is set to take place in the first half of 2023.
A Foundation for Future Growth
Finstep sees its educational offering as a building block for future expansion. The startup plans to add youth-oriented financial products, such as savings accounts and debit cards, to its platform in the future. This will enable Finstep to become a central financial center for families, providing education and practical financial products to the younger generation.
In conclusion, Finstep’s app is an innovative approach to financial education, providing practical skills to young people through entertaining and engaging content. The startup’s mission to empower the younger generation with financial knowledge is critical in a world where financial literacy is essential. As the startup expands its offering to include financial products, it has the potential to become a central financial center for families.
Link: https://finstep.de/
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