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“Parents and the current banking options miss the point when they just focus on savings. We need to first prepare kids to be Smarter Spenders, supported by savings and investing,” said Taylor Burton, co-founder of Till. “ With Till, kids learn to spend with intention and purpose, while parents gain confidence and trust based on transparency and accountability. We offer this platform with no fee to all families—irrespective of socioeconomic status—because a kid’s first banking experience should not come with their first banking fee.”
Whether parents like it or not, as soon as children are handed a cell phone, they are entering the spending economy for the first time. Till respects young consumers by treating them like the economic actors that they are by putting spending power in their hands. This spending power is not just allowance dollars, but also the dollars that the family typically spends on their behalf—the “meet me at the register” dollars. On top of the dollars that children typically control today, Till gives families a trusted platform that allows the child to control a larger portion of the additional money usually spent for them by others.
“Parents are still the fiduciary on Till—ultimately, they are the ones who contribute money and work with their kids to teach them smart financial habits. This balance gives families a unique opportunity to prepare their kids to make solo financial decisions down the line.”
Till’s over $5million in funding comes from institutional investors with a focus on fintech and the modern family, including Elysian Park Ventures, Pivotal Ventures with Magnify Ventures, Afore Capital, Luge Capital, Alpine Meridian Ventures, The Gramercy Fund, SM Ventures (Family office – Founders/Co-CEO’s of Stadium Goods) and Lightspeed Venture Partners (Scout Fund). Joining these funds are angels with experience in financial inclusion, retail, and education including the founders of Petal, the founders of Drizly, president of Transactis, and president of 1800Flowers.