FamPay is India’s first neobank for teenagers. Backed by Y Combinator and Sequoia Capital alongside other prominent investors, the startup was founded in 2019 by IITians Sambhav Jain and Kush Taneja. With FamPay and its numberless card, minors can successfully make online (UPI & P2P) and offline payments without the need to set up a bank account. Parents can top up their child’s FamPay account and let them spend the funds under their supervision. FamPay aims to raise a new, financially aware generation of Indians who understand the fundamentals of personal finance and are capable of making decisions in their best long-term interest.
Read more to find out how FamPay grew its transactions by 22% within just half a year!