About

Woli is a smart money app and debit card for teens 10-18 yo, co-managed by their parents. Woli automates pocket money and helps children grow good money skills in a fun and secure way! We are building the money account for the young, digital native generation. Combining a mobile app, a prepaid Mastercard, smart notifications and age-appropriate finance classes, Woli empowers children to Earn, Save and Spend money responsibly within a safe environment. We aim to become the first banking experience for kids and families across Europe, but also a unique platform for financial literacy – which is a proven driver of financial wellbeing. Our mission is to empower young people by giving them financial freedom and knowledge.

Solution & Product

With the Woli app, Parents can automate allowance, set flexible parental controls and even create tasks to teach children how to earn, while having full visibility into the child account through real-time notifications. Teens gain access to their first money account and their own Mastercard to shop online and in-store. With Woli, Teens can set their own Saving Goals, understand their spending through rich statistics and learn through interactive in-app financial literacy classes.

Innovation & Scalability

We are creating a type of app which does not yet exist in the market, one tailor-made for children and families. We combine financial services with financial education and family life tools, to make Woli the center of family management. Our business model is very simple, charging a subscription fee per card per month to the parent.

Traction & achievements

We founded Woli in July 2020 and within the first year we secured a strategic partnership with Railsbank, global leader in banking technology, received our license to operate throughout the EEA from Bank of Lithuania and got the approval from Mastercard Global to issue our colourful Woli card. Since July 2021, Woli is live starting operations from the Greek market, with the aim to enter another EU market within 2021. More than 500 families already use Woli for their pocket money.

Team & Why Us

Woli is powered by a growing team with unique collective expertise across fintech, payments, education and social gaming. We are driven by our common passion for innovation and the belief that youth banking must be designed from scratch. The team is led by Vasilis Zoupas, experienced in fintech, leading Product for Viva Wallet and OKTO among others, an INSEAD MBA and Oxford Fintech Alum.

Product is led by Michael Nafpliotis and Tech is led by Dimitris Mpanis, both long-time tech entrepreneurs and co-founders of social gaming studio LazyLand and zoo.gr, once the first Greek social network.

Marina Grissin, joined to lead Financial Education content for children (serviced via our app) studied at INSEAD together with Vasilis, where they jointly took part in multiple projects.

Vasilios Ganos, former Viva Wallet AML serves as Woli Compliance Officer

Board member Filippos Antonopoulos, is a long-time business partner of the team, and an entrepreneur with great experience in scaling international businesses, having already succeeded in an exit.

Funding Needs

The company initiated operations using primarily own funds, while currently opening up the second funding round. In March 2022, the company completed a 700K pre-seed round, with Eleven VC as the lead investor and participation from various angels including the CEO of Payhawk and the CEO of Plum Fintech.