Meet Pocket! This Indonesian fintech's making it easy for families to manage their money. They've also just raised a pre-seed led by East Ventures. The amount's hush-hush, but here's what you should know.

• The goal? Improve Indonesia's financial access and literacy.
• They've grown 2.5x MoM in new users and 3x MoM in total purchasing value (TPV).

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😤 What's wrong?

One. Traditional joint banking accounts are complicated. They take ages to sign up for and usually only offer one debit card. Plus, they mainly act like regular bank accounts (except multiple people can use them).

Two. Most kids don't have access to banking. So, parents end up giving cash or their own financial accounts to children without being able to control their spending.

• Parents also struggle with how to teach kids about managing expenses.

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💡 Their solution

They offer digital financial accounts for families! Each family member will have their own connected (yet individual) accounts.

Everyone can spend (safely). Each account comes with prepaid virtual and physical debit cards and the option to pay through QR codes!

• Deposit, send, and save money in-app.

Watch the kids. Family members can manage and personalize their children's accounts when needed, like adding spending limits and getting reports and analytics.

• Kids can learn how to manage money wisely by using the app!

Stay in check. Parents and kids can easily budget and view spending in-app — you don't have to do it manually.

• If you (or the kids) are overspending or if your budget's running low, they'll let you know!

💭 The strategy

They're also working with Indonesian banks, Indonesia's Ministry of Education, Culture and Research, and Technology, as well as over 100+ schools too!

• For what? To develop and share content on financial literacy for kids.

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✅ What's next?

The cash will help them develop their product and offerings to improve Pocket's financial ecosystem. Oh, and they'll also focus on increasing adoption and user growth!