In an innovative approach to financial education, South African startup Fintr is leveraging gamification to teach young people about money management. By combining superhero-themed narratives, practical financial exercises, and competitive reward systems, Fintr aims to make learning about money enjoyable and engaging. The platform seeks to foster positive financial behaviors from a young age, equipping the next generation with the skills needed for financial success.
The Founding of Fintr and Findamentals
Fintr is the brainchild of Elijah Djan and Danei Rall, who co-founded Findamentals, Fintr’s parent company, in 2021. Both Djan and Rall grew up in households where financial literacy was rarely discussed, and their journeys to understanding money management were self-taught during their university years.
Reflecting on their shared experiences, Djan recounted, “Navigating the complexities of money management became a self-taught journey during our university years. We met in our final year during a lecture where the lecturer shared her personal financial journey. The lecturer’s words struck a chord, and we quickly discovered a shared passion for empowering others with the knowledge we had to piece together on our own.”
The desire to help others avoid the same struggles they faced growing up led to the creation of Findamentals. The company, through Fintr, aims to equip young people with the tools and knowledge to make informed financial decisions early in life, ultimately helping them build more secure financial futures.
Gamifying Financial Education
Djan and Rall recognized that traditional financial education methods, such as workshops, books, and lengthy online videos, often failed to inspire engagement. To solve this, they turned to gamification—the use of game-like elements to drive engagement and learning.
Djan explained, “Learning about money is often seen as dull and uninspiring, with most resources limited to traditional in-person workshops, books, or lengthy YouTube videos. We envision a solution that not only imparts knowledge but also sparks a transformation in behavior.”
He further highlighted that numerous academic studies have demonstrated the power of game-based learning in effecting real, lasting change. Fintr’s mission is to create a generation of financially savvy individuals by making learning about money fun and interactive. The startup uses games to deliver a more engaging and impactful learning experience.
Since its launch in 2023, nearly 1,000 people have used Fintr’s digital games. The platform continues to grow, with its latest offering, FinMaster, a board game that aims to be a modern-day version of Monopoly. The game is designed to teach essential financial skills through gameplay and is already available for pre-order.
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Expanding into Schools
In addition to their online platform and board game, Fintr has begun collaborating with schools. The startup is in the midst of an active sales drive aimed at integrating their Fintr4Schools digital solution and the FinMaster board game into the Grade 7 Economic and Management Sciences (EMS) curriculum. By incorporating interactive learning tools into formal education, Fintr hopes to make financial literacy more practical and engaging for students.
“We are excited about the prospect of using our Fintr4Schools digital solution and our board game, FinMaster, as ways to bring life and practicality into the grade 7 EMS curriculum,” said Djan.
Funding and Support
To support its growth and expansion, Fintr has attracted significant backing. During its incubation period at TuksNovation in 2023, the company received early funding. It has also secured grants from major organizations such as the World Bank and Standard Chartered Bank, as well as equity funding from E Squared through its Pathways programme. Fintr was also selected as one of 12 startups to participate in the Injini ed-tech accelerator earlier this year.
This financial support has helped Fintr pursue its goal of becoming a global leader in financial education. “This is a global problem that we want to solve for every child! Our dream is that every child leaves school with the knowledge and skills to achieve financial success, and every home has a FinMaster game,” Djan stated.
Monetization Strategy and Partnerships
Fintr has a clear monetization strategy, primarily focused on selling annual licenses to schools for its digital solution. The startup is also generating revenue from the sale of its FinMaster board game through its online platform. Additionally, the company is exploring partnerships with banks and financial institutions to create custom games tailored to their needs. Djan revealed that conversations with two interested institutions are already underway.
Despite their successes, the Fintr team faces challenges in proving the value of financial literacy, as the return on investment often isn’t immediately evident. “One of our biggest challenges is that the return on investment for financial literacy often doesn’t reveal itself until years later. While everyone we talk to agrees it is important, it often gets pushed to the back burner when it comes to personal or business budgets,” Djan explained.
A Vision for the Future
Despite these hurdles, Fintr is committed to changing how young people learn about money. The founders believe their approach has the potential to make a lasting impact, not just in South Africa, but globally. As they continue to grow and refine their platform, their goal remains clear: to ensure that young people everywhere have the financial knowledge and tools they need to succeed.
Through its innovative use of gamification, strategic partnerships, and focus on early education, Fintr is on a mission to transform financial literacy for future generations.