Otly started out as a simple online tool for Lior (co-founder and CEO) to manage the allowance of his children. What began as a weekend and evening project for him and Vedran (co-founder and CTO) early 2015, has grown into a real company with a much broader mission and vision. After having built the first prototype, raised some funding and won some awards, we have now set our sights on realizing our mission and vision.
Our mission is to "provide all children with their first true banking experience" and we are working on accomplishing this through our Otly and Otly Jr. apps. These apps can be used for parents to manage the allowance of their children and for children to save and spend their own money in a safe, responsible and educational way.
Besides our practical mission, we are also striving "to create an inclusive world, without financial illiteracy for a next generation". By providing content within our apps and being an active member of the communities we work in, we try to teach children about money and financial matters from an early age. Money is still a taboo and we need to change that.
From the people we get to talk to and the stories they share, we have come to realize that there is a much bigger need for Otly than just Lior's kids. We are committed and motivated to see what we can do for the people who use our app and how we can make their lives a little easier and their allowance a lot more manageable.