Fintech Startup YOLO Raises Pre-Seed Funding to Revolutionize Digital Payments for Teenagers
- ByStartupStory | June 2, 2023
YOLO, a Delhi NCR-based fintech startup, has recently secured an undisclosed amount in a pre-seed funding round, which was spearheaded by Shuru-Up, Growth91, and a group of angel investors. According to an official statement from the company, the funding will be utilized to enhance product development, expand the team, and implement an effective marketing and growth strategy.
YOLO, a fintech startup founded by Shivansh Agarwal, a former employee of Razorpay, in April 2022, is focused on creating a specialized payments app-based platform to encourage digital money transactions among teenagers. The recent funding secured by YOLO will also facilitate the integration of college ID cards with digital payment capabilities, offering enhanced convenience and efficiency. The highly anticipated YOLO Money app, designed exclusively for teenagers and colleges, is scheduled to be launched in July 2023.
YOLO has achieved remarkable milestones in a short period, having successfully partnered with four universities and onboarded an impressive student base of 10,000. Additionally, they have fostered a thriving community of over 50,000 GenZ members. YOLO stands out by offering teenagers the opportunity to acquire their first card without the need for a bank account. This card enables them to conveniently make online and offline purchases, transfer funds to friends, and perform UPI transactions through the YOLO app.
Furthermore, parents have the flexibility to effortlessly add funds to their child’s YOLO account, granting them the freedom to spend the money as they please, under parental supervision, at any time and in any location.
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