Strive, the putative UK-based operator of a youth account for kids, has acquired digital piggy bank startup GoSave in an all-stock deal.
Strive is targeting the 0-18 age group, beginning with a basic savings account and £99 interactive piggy bank for the youngest age group, a pocket money app linked to chores for eight-year olds and above, graduating to a full-service debit card for the teen market.
The offering is combined with a marketplace featuring a a range of toy, educational and edtech brands, and a white-label proposition for banks.
The firm, which has opened a waiting list and is about to embark on Seedrs crowdfunding campaign, is entering a crowded marketplace, with competition from the likes of fintechs GoHenry, HyperJar and Osper and junior accounts from challenger banks like Starling and Revolut.
Strive CEO, Ivan Muck, says: "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.”