Vircle

Based in Singapore and founded in 2018 by co-founders Gokula Subramaniam (CEO), Paresh Khetani, Manu Menon, and Nathalia Lim, Vircle offers an online platform that allows parents to manage their children's financial education. Vircle offers a wide range of financial tools intended to empower parents and educate children about money management. The core product consists of the Vircle app and a Visa prepaid card, enabling parents to provide pocket money to their children while instilling the principles of earning, spending, and saving responsibly. The app allows for the setting of allowances, monitoring of real-time spending, and providing alerts for transactions, thereby fostering accountability and responsibility among young users. Additionally, Vircle's platform facilitates cashless transactions in schools, enabling students to make purchases, order meals, and engage in various e-commerce activities at compliant educational institutions. The primary customer base comprises parents and guardians, with end-users being children and adolescents, primarily in urban regions across Southeast Asia, including Malaysia, where the service is first launched. The firm's revenue model is primarily based on subscription fees for its PRO plan, priced at RM5 per month when billed annually or RM8 for monthly billing, alongside transaction fees related to its Visa prepaid card usage at over 100 million merchants globally. This structured model supports B2C interactions with families while appealing to educational institutions transitioning to cashless systems. The company plans to expand its offerings and enter new markets across Southeast Asia, focusing on urban centers by late 2025.

1. Seed

   Apr 25, 2024

   Amount

   $2.8M

   Investors

   Locked