Gravystack raises $5.2 million to launch a gaming financial literacy banking platform

Gravystack raises $5.2 million to launch a gaming financial literacy banking platform

By Edlyn Cardoza

May 16, 2022

Financial Literacy App, Gamification Engine, FinTech Solution, Amazon Pay, PayPal Commerce Platform, United States” width=”175″ height=”175″ srcset=” 200w,×150.jpg 150w,×100.jpg 100w” sizes=”(max-width: 175px) 100vw, 175px”/>Serial entrepreneurs Scott Donnell and Travis Adams have raised a $5.2 million seed round led by Altrus Capital and a pool of private investors to launch the GravyStack financial literacy app. The main investors are Chad Willardson, Mark Timm, Gino Wickman, Jim Kwik, Kate Wells, Loral Langemeier and David Meltzer.

GravyStack will launch in mid-2022 with a sophisticated banking and gamification engine that inspires kids and teens to earn and manage their money with multiple levels of real-life skill-building challenges. Parents can monitor their children’s account activity and set flexible controls, making GravyStack a FinTech solution for the whole family.

“GravyStack is more than just a debit card for kids, and better than an allowance,” Donnell said. “It’s a real-time financial roadmap for kids. GravyStack breaks down the simplicity of money, from saving to spending to sharing, and combines innovative banking technology with 100 games to make learning fun for kids.

“We both have multiple children and all of our investors are parents,” Adams said. “We took on the challenge of figuring out how to teach our children about money and what to say to them when they ask us for money. If you give them free money, like an allowance, you train them to expect that in the future. If you say no, you open the door to an argument. These are dead-end situations. GravyStack gives parents a third option – to say, ‘Open GravyStack. What can you do to earn your own money? »

The funding round helped GravyStack bring in key executives, including chief banking officer Gary Arnold, who led the creation of Amazon Pay and the PayPal commerce platform; and product manager John Fowler, who has built several multimillion-dollar companies from ideation to exit.

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