Money Walkie Completes its Fourth Fundraising with a Crowdfunding Campaign on Sowefund

Money Walkie is launching a crowdfunding round. The fintech company that made a name for itself with its contactless keychain/wallet system for children that can be personalised has just launched its first crowdfunding campaign with the support of Sowefund.

The stated aims of the €700,000 campaign are to satisfy some of its customers who wanted to invest in the system and to transform these same customers into ambassadors who are prescribing the same system.

But what is Money Walkie?

Money Walkie was created from an observation/questioning at the end of 2019: how can we give money in a practical way to children, before the age of 12, without the risk of losing it and with minimal control over its use? The product will be born at the end of 2020, driven by the Covid crisis during which contactless payment proved its usefulness.

This product is a small box as bulky as a parking pass, designed with customizable panda or Naruto-shaped covers. Available in 1,000 points of sale today (Fnac, Le Bon Marché, King Jouet… to which are added the BPCE banking networks), it comes with its banking application controlled by parents who can thus transfer the amount of their choice allowing the child to pay for their purchases contactless thanks to the box. Older, the child will be able to access a fairly standard banking application via their phone, always under parental control.

“To my knowledge, we are the only ones to have an economic model that balances itself both through the sale of products in retail and the banking application” relates Raphaël Leprette, CEO and Founder of Money Walkie.

“A little surprise that we hadn’t necessarily anticipated when we launched: we noticed quite quickly, in 2022, that 20% of our users were adults. Parents now buy the box to provide it to the nanny or the cleaning lady to pay for purchases. Some use it to go and play sports outdoors, others for tolls, and still others provide one to their elderly parent who may not have a full idea of ​​expenses.”

At the moment, the number of Money Walkie users stands at 100,000 with the aim of doubling by the end of 2025

Another nice surprise for the fintech company? The fact that it was taken on board the Paris 2024 Olympic Games adventure by two of its partners – Visa and BPCE – as a pre-loaded “wallet” gift offered to their VIP customers. A real spotlight with choice ambassadors.

And it is precisely so that its customers also become its first ambassadors that Money Walkie is today completing its fourth fundraising in four years of being on the market, with this crowdfunding round supported by Sowefund. ” We followed what they did for players like Mon Petit Placement for example and we found the model interesting, especially since it was a request from some of our customers .”

Before this fourth round, Money Walkie had raised 2 rounds in 2021 and 2022 from business angels (€845,000 and €1.7 million) “With the support of personalities such as Roxane Varza, the director of Station F and Vanessa Dorian Proust (ex-Partner at EY) and Emmanuel Mounier (Unique Héritage Média – Le Journal de Mickey).

In 2023, there will be a larger round of €3.2 million and if the initial BAs are still there, validating the model, they are joined in the adventure by Caisse d’Epargne Pays-de-Loire accompanied by Groupe M6. For the 2024 vintage, it will therefore be a new round expected to reach €4 million (including Sowefund raising). A round led this time by BPCE (€1.5 million) supported by Groupe M6 (€1 million) and Caisse d’Epargne Pays-de-Loire (500 K) with the support of BA. As for the Sowefund fundraising (700,000), more than 2,000 users of the solution have already reserved their place, securing 92% of the objective.

This fourth fundraising should support Money Walkie’s ambition to become the means of payment for all generations, with why not, the desire to go beyond the borders of France, into continental Europe.

Founded in 2019, Money Walkie offers a contactless wallet to entrust money to children and teenagers. With rapid success, Money Walkie already has more than 100,000 users and is also winning the hearts of adults. The only Fintech sold in 3 distribution networks, Money Walkie is experiencing very strong growth with a turnover multiplied by 3 each year for 3 years. A practical, secure and educational object, Money Walkie is a universal and complementary means of payment for all generations.

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(Featured image by Patricia Prudente via Unsplash)

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First published in Finyear. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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