Mozper, a brand new service launching from Y Combinator’s newest cohort to offer digital banking companies, takes its identify from the English phrases for cash, prosperity, and era Z, in accordance with co-founder Yael Israeli.
A former banker at Lehman Brothers and Barclays Capital, Israeli labored as a guide for Copa Airways after which as an impartial advisor from her house in Panama.
It was throughout conversations together with her husband’s roommate from Israel, Gabriel Roizner, a serial entrepreneur who constructed client startups in Latin America (like Disca, the net vogue neighborhood), that Mozper was born.
Roizner had spent years wandering from Uruguay to France to Brazil to Israel to Mexico and now, settled in Miami, Roizner was prepared to begin one other enterprise.
So the 2 started planning a service for Latin American shoppers that may mirror the sorts of choices mother and father and youngsters have within the US and Europe by way of startups like Greenlight and GoHenry. Final yr, in an indication of how effectively the enterprise resonates with buyers, Greenlight Card raised $54 million in funding to roll out its banking enterprise for folks to show youngsters about cash.
The workforce added longtime tech developer Pablo Klestorny as chief know-how officer and co-founder and got down to increase capital for his or her enterprise.
Traders know a superb factor once they’ve seen it earlier than, so Mozper has already managed to lift roughly $1.5 million on the again of the corporate’s founders’ private connections and a marketing strategy that’s confirmed profitable.
What’s completely different in Latin America is the large disparity in monetary training. Solely thirty % of Latin Individuals have acquired monetary training, in accordance with Israeli. So a service like Mozper’s is much extra obligatory, she says.
Just like the incumbents within the US and Europe, Mozper intends to cost a charge for entry to the cardboard and can present a debit card and an app that each mother and father and their kids can entry.
Mozper’s preliminary market is Mexico, the place it launched in late July. The corporate makes use of Toka as its sponsor financial institution and is engaged on getting its fintech license from the Mexican authorities. Mozper has additionally partnered with Visa on card processing companies, in accordance with Israeli.