Strive acquires GoSave to launch youth accounts

https://www.mobilepaymentstoday.com/news/strive-acquires-gosave-to-launch-youth-accounts/
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Strive, the U.K.-based operator for youth accounts, has acquired digital piggy bank startup GoSave in an all-stock deal, according to a report in Finextra.

Strive will target the 0-18 age group, beginning with a basic savings account and £99 ($128) interactive piggy bank for the youngest age group; a pocket money app linked to chores for ages 8 and above and graduating to a full-service debit card for the teen market.

The offering is combined with a marketplace featuring a range of toy, educational and tech brands.

Strive is entering an already competitive marketplace with fintechs GoHenry, HyperJar Osper, Starling and Revolut all vying for an opportunity to capture the youth market.

“We see a real gap in the market to build a solution for parents that grows with the child, so it’s not just a debit card, it’s a whole 0-18 proposition that parents can start at any age,” Ivan Muck, CEO for Strive said in the report.

https://www.mobilepaymentstoday.com/news/strive-acquires-gosave-to-launch-youth-accounts/