Financial Education Platform, GoalSetter, Raises $15M in Series A
At the ending of the Series A funding round financial education platform, GoalSetter raises $15 million to increase financial literacy.
Financial literacy is becoming a popular topic these days. However, as per the studies that most people have very limited knowledge of the subject. The financial education platform creates financial education as a very fun activity through interesting quizzes. At the closing of Series A, the company has raised $15 million.
The Series A funding round was led by Seae Ventures. However, Fiserv, Mass Mutual, Citizens Financial Group, Astia Fund, and some NBA players also participated in the funding round.
Tanya Van Court founded the startup. GoalSetter has a very interesting story that led to its initiation. The founder of the company lost her $1 million in stocks during the economic bubble burst in 2001 due to weak financial literacy. After working for different good prestige companies, she realized that there is a very big gap between the market and how we communicate money to the kids. Therefore, she founded GoalSetter with the aim to create awareness and improve financial literacy.
GoalSetter is providing investment, funding, financing, and educational tools to K-12 youth and families. Kids can get allowances and monetary assistance from their families and friends and can also spend money using GoalSetter’s debit card. The interesting part is that kids can only unlock and use the funds after passing interesting but easy financial literacy quizzes. The difficulty of the questions depends on the age and previous knowledge of the kid.
“If we want to transform the bell curve of wealth in our society, we need to start by ensuring that the next generation of Americans is savers, investors, and owners. The work starts by giving them early access to financial tools and making financial education relatable, fun, and accessible, and that is what Goalsetter achieves,” says the CEO and founder Tanya Van Court.
The current investment has opened new ventures for the company. It has now moved to a B2B platform from B2C. Because the company was previously focussing on attracting parents and kids. Digital transformation in the banking sector is revolutionizing. Goalsetter provides a one-stop platform to the users that can help families set up a first savings account, investment account, and help with financial education for their kids.