Jassby, Inc. Market Research Report

Background

Overview

Jassby, Inc. is a fintech company specializing in family-focused financial services. Founded in 2017, the company has developed a comprehensive platform that enables families to manage allowances, chores, and financial education for children and teens. The platform offers both physical and digital debit cards, integrated with major digital wallets, to facilitate secure and controlled financial transactions.

Mission and Vision

Jassby's mission is to promote financial literacy among Generations Z and Alpha by providing a safe, digital environment where families can manage finances collaboratively. The company's vision is to empower families with tools that foster responsible money management from an early age.

Primary Area of Focus

The company's primary focus is on offering a digital platform that combines a debit card system with financial education tools, allowing families to manage allowances, chores, and spending habits effectively.

Industry Significance

Operating within the fintech industry, Jassby addresses the growing need for financial literacy among younger generations. By integrating financial education with practical tools, the company contributes to shaping future consumers who are informed and responsible in their financial decisions.

Key Strategic Focus

Core Objectives

Financial Literacy Promotion: Equip children and teens with the knowledge and tools to manage money responsibly.

Family Financial Management: Provide a platform that enables families to collaboratively manage allowances, chores, and spending.

Digital Integration: Offer a seamless experience through digital wallets and contactless payments.

Specific Areas of Specialization

Allowance Management: Automate and track allowances to teach budgeting skills.

Chore Tracking: Assign and monitor chores to instill a work ethic and financial responsibility.

Financial Education: Provide resources and tools to educate users on financial concepts and practices.

Key Technologies Utilized

Digital Wallet Integration: Compatibility with major digital wallets for easy transactions.

Contactless Payments: Enable secure and swift transactions through contactless technology.

Mobile Application: A user-friendly app available on iOS devices for managing finances on the go.

Primary Markets Targeted

Families: Parents and guardians seeking tools to teach financial responsibility to their children.

Educational Institutions: Schools and programs aiming to incorporate financial literacy into their curricula.

Youth Organizations: Groups focused on developing life skills among young individuals.

Financials and Funding

Funding History

Jassby has successfully secured multiple funding rounds to support its growth and development:

Series A: An undisclosed amount raised on May 3, 2017.

Convertible Note: An undisclosed amount raised on August 8, 2019.

Venture Round: An undisclosed amount raised on October 17, 2018.

Venture Round: $5 million raised on March 5, 2020, led by Moneta Capital and Needham Bank, with participation from existing investors such as Blumberg Capital, Correlation VC, and PnP Ventures.

Seed Round: $2.9 million raised on January 11, 2021, led by SeedInvest and Erhan Bilici.

Total Funds Raised

The total funds raised by Jassby amount to approximately $12.9 million across various funding rounds.

Notable Investors

Moneta Capital: Led the $5 million venture round in March 2020.

Needham Bank: Participated in the $5 million venture round in March 2020.

Blumberg Capital: Participated in the $5 million venture round in March 2020.

Correlation VC: Participated in the $5 million venture round in March 2020.

PnP Ventures: Participated in the $5 million venture round in March 2020.

SeedInvest: Led the $2.9 million seed round in January 2021.

Erhan Bilici: Participated in the $2.9 million seed round in January 2021.

Intended Utilization of Capital

The funds raised are intended to support Jassby's growth initiatives, including:

Product Development: Enhancing the platform's features and user experience.

Market Expansion: Increasing user acquisition and expanding into new markets.

Operational Scaling: Building infrastructure to support a growing user base.

Pipeline Development

Key Pipeline Candidates

Jassby focuses on developing features that enhance financial literacy and family financial management, including:

Financial Literacy Score: A metric to assess and encourage users' financial knowledge and habits.

Jassby Rewards: A rewards program to incentivize positive financial behaviors.

Parental Controls: Tools that allow parents to set spending limits and monitor transactions.

Chores and Activities: Features to assign and track chores, linking them to financial rewards.

Savings Goals: Tools to help users set and achieve financial objectives.

Stages of Development

These features are in various stages of development, with some already integrated into the platform and others planned for future releases.

Target Conditions

The primary focus is on enhancing financial literacy and responsible money management among children and teens.

Relevant Timelines

Specific timelines for the rollout of these features are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

Digital Wallet Integration: Ensures compatibility with major digital wallets for seamless transactions.

Contactless Payment Technology: Provides secure and swift payment options.

Mobile Application: A user-friendly app available on iOS devices for managing finances on the go.

Significant Scientific Methods

Financial Literacy Score: A metric to assess and encourage users' financial knowledge and habits.

Jassby Rewards: A rewards program to incentivize positive financial behaviors.

Parental Controls: Tools that allow parents to set spending limits and monitor transactions.

Chores and Activities: Features to assign and track chores, linking them to financial rewards.

Savings Goals: Tools to help users set and achieve financial objectives.

Leadership Team

Key Executives

Benjamin Nachman: CEO, leading the company's strategic direction and growth initiatives.

Greg Bottenhorn: EVP of Business Partnerships, responsible for establishing and managing strategic partnerships.

Adoram Gaash: Managing Partner at Moneta VC, led the $5 million venture round in March 2020.

Professional Backgrounds

Benjamin Nachman: Brings extensive experience in fintech and a passion for financial literacy.

Greg Bottenhorn: Has a strong background in business development and partnerships within the fintech sector.

Adoram Gaash: An experienced investor with a focus on fintech and consumer services.

Key Contributions

Benjamin Nachman: Oversees the overall vision and execution of Jassby's mission.

Greg Bottenhorn: Drives growth through strategic partnerships and collaborations.

Adoram Gaash: Provides strategic guidance and investment support to fuel Jassby's expansion.

Competitor Profile

Market Insights and Dynamics

The market for family-focused financial services is growing, with increasing demand for tools that promote financial literacy among younger generations. The rise of digital wallets and contactless payments has created opportunities for innovative solutions in this space.

Competitor Analysis