Welcome to our X-Europe startup interview series. We have virtually sat down with a number of our founders from past cohorts to hear all about their solutions, vision for the future, and what made them tick during our X Europe programme. So whether you are a deep tech founder looking for startup support, an eagle-eyed investor, or simply interested in the possibilities that technology can bring to society, then we welcome you to take a read. Please meet Woli, a smart money app for modern families.
Can you briefly explain what your solution is all about? What’s unique about it?
Woli is the smart money app and Mastercard for teens 10-18, co-managed by their parents. Woli automates pocket money and helps children grow good money skills in a fun and secure way.
What led you to start or join your company? What is the key motivation and mission behind the startup?
Our mission is to empower young people by giving them financial freedom and knowledge. We aim to be the first banking experience for kids and families across Europe and a unique platform for financial literacy, which is a proven driver of financial wellbeing.
What’s the biggest milestone your startup has achieved so far, and what has surprised you most on this journey?
Our biggest milestone was seeing our first teenage customer make his first payment with his own Woli card. Since then, we have grown to +1,000 registered users and the plan is to build many features into our product to make the experience stellar for kids.
How has X-Europe helped you during the past few months?
X-Europe is a carefully designed program, which in our case has brought great insights about market analysis and understanding of our customer personas. This in turn brings great input into our product development.
What are your goals over the next 3, 6, and 12 months?
Our short-term goal is to build the core community of happy customers in our home market of Greece - using the Woli app and Mastercard for their everyday life and pocket money. Within 2022, we have a ton of features that we are planning, as well as expanding to other European markets.
What advice would you give to an entrepreneur trying to pave his/her way in the Fintech landscape?
The Fintech landscape is a pretty demanding one because both technological and compliance requirements are high. A newcomer must have experience in the space, in order to make the right decisions and get the right partners in place.
What one piece of advice would you give your 21-year-old self?
Love what you do.
What’s unique about the X-Europe program?
Tackling real-life problems and providing real-life solutions to support rising startups like Woli. We are really happy to be part of the team!
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