Swedish children’s financial literacy app Gimi teams up with ABN AMRO

In today’s increasingly cashless world, children can struggle to understand the value of money.

Step forward Gimi, a Swedish EdTech startup founded by a former professional footballer.

Gimi, founded in 2015, is now partnering with banking juggernaut ABN AMRO, to help better educate the young about personal finance and handling their bank accounts.

The deal, it is hoped, will bring Gimi to a wider audience.

The co-branded app will be initially available to all families in the Netherlands.

Gimi says that ABN AMRO is the first bank in Europe to launch an educational tool designed especially for children and their parents, to help address the issue of financial illiteracy in the young.

The app allows ABN AMRO’s young customers to handle their money through their connected bank account using open banking.

All young ABN AMRO customers signed up to the app will have free access to personal finance e-lessons, can take part in ‘money missions’ with their families, and are assisted by Piggy, the in-app financial literacy advisor. 

Founded in Stockholm by Swedish former professional footballer Philip Haglund in 2015, the Gimi app, which has been downloaded over 1.5m times globally, is aimed at children between the age of seven and 13.

The app, which is translated into English, Swedish, Norwegian and Dutch, aims to encourage experiential and social learning so children can learn how to handle their personal finances. 

For example, it helps them to keep track of pocket money and offers advice on earning money.

Haglund, founder and CEO of Gimi, said: “Our mission is to equip future generations with financial superskills for life. 

“We can achieve this by encouraging children to learn on-the-go by managing their money in real-time through the Gimi app.

“All around the world, children are taught about far away planets or historic Kings and Queens, but they know little about how to budget or understand their finances.

“Partnering with such a reputable bank as ABN AMRO allows us to work with a like-minded organisation that wants to equip children with the money-related skills they need.”