tendy Partners with WealthKernel to Boost Financial Literacy in UK Teens
- Wealth Management
- 12.12.2022 09:10 am
WealthKernel, a wealthtech provider of digital investment services, today announces its partnership with tendy, an educational investment platform for UK teens.
tendy will use WealthKernel’s core investing infrastructure, including trading and custody services, fractional stocks and ETFs, client onboarding (KYC), and access to different account types.
Age is possibly the most valuable asset for a young investor. Individuals who start investing earlier than their peers have an advantage in knowledge gained from investing and potential returns. But traditional investing platforms mainly cater to those above 18, leaving teenagers with no safe space to begin their investing journeys.
In searching for a good investing method, young and first-time investors often come across risky platforms that encourage wrong investment decisions. Co-Founders Jamie and Alex founded tendy in 2022, intending to change this - by offering an educational investing platform that uses Duolingo-style learning activities around investing to improve financial literacy.
With tendy, parents can open investment accounts for their children in the app. The children can then find a stock they’d like to invest in and send their parents a request to approve it and buy it.
With the help of WealthKernel’s infrastructure, tendy will be able to power its investing services and focus on launching its app in early 2023 to its 5000+ waitlist customers.
Karan Shanmugarajah, CEO of WealthKernel says -
“Financial literacy is critical for children to understand how to save and invest money in life for a better future. The aim is to encourage discussion around the way we manage money – and a key focus is enabling children and young people to develop good money habits.
We at WealthKernel are very excited to see companies like tendy build the infrastructure and services that allow young investors to actively engage in investing in a safe, informed and regulated manner. “
Jamie Collie, CEO of tendy, says-
“tendy is the first educational investing platform for UK teens. Our mission is to bring responsible investing to the next generation. WealthKernel was the natural choice for us given their stellar reputation for powering disruptive fintech platforms.
WealthKernel has been a fantastic partner throughout the process so far and we are looking forward to working together as we grow over the long term.”
Alex Bonnet, CTO of tendy, says -
“From an engineering perspective I found WealthKernel’s detailed documentation and coherent API design to be best in class. Getting started with the platform was quick and easy, allowing us to plan and execute our development roadmap with confidence.”