Malaysian neo banking platform Vircle receives investment from 1337 Ventures
Through its 1337 Accelerator Fund I, 1337 Ventures has revealed that it has invested in Vircle, a Malaysian neobanking platform that aims to improve children’s financial literacy.
According to a statement from 1337 Ventures’ CEO and founding partner, Bikesh Lakhmichand, Vircle is leading the charge to reshape financial responsibility for the next generation.
“It’s not just about teaching children how to manage money, but about setting them up for a future of financial independence and literacy,
“As they expand across public schools and into the regional market, we are proud to continue backing their efforts through our funding,” he added.
With Vircle, Malaysia’s first kid-safe platform for pocket money and financial management, parents can manage all of their kids’ pocket money and financial education skills in one location, for both in-school and after-school expenses.
The first Visa card with parental controls and child safe protection is given to kids by Vircle Club for their school expenses.
The platform, which aims to bank one million children in Malaysia and three million throughout Southeast Asia in five years, was created to assist kids in budgeting, saving, and spending responsibly.
In order to further accelerate its goal of empowering a generation of financially responsible people, Vircle also collaborates with significant private and international schools by offering industry-leading cashless school platforms. Most recently, the company partnered with U Mobile to test cashless payments in Malaysian public schools.
With its cutting-edge platform and more than 100,000 families from 150 different countries, Vircle’s safe, kid-centered approach to family finance is already helping a lot of families.
In its quest to transform financial education, Vircle has already attracted substantial traction and obtained follow-on funding.
“Our core mission has always been to teach kids how to manage money wisely, and this investment enables us to scale our operations and expand our reach,
“With the support of 1337 Ventures & strategic guidance, we’re poised to grow across Southeast Asia, helping millions of children develop critical financial skills,” said Gokula Krishnan Subramaniam, Founder and Chief Executive Officer of Vircle.
The 1337 Accelerator Fund I was established in January 2022 to fill the crucial early-stage funding gap for Malaysian startups.
In order to give early-stage startups the crucial funding, guidance, and strategic support they need, 1337 Ventures manages the fund in partnership with seasoned investors like Asgari Stephens and Suresh Thiru, the former Chief Operating Officer of JobStreet.
The fund’s flagship accelerator program, Alpha StartupsTM, has helped a number of high-potential startups.
