Last Updated on: 21st November 2023, 09:58 pm
Doshi, a gamified financial education platform, has announced the successful completion of additional funding for its Pre-Seed round, bringing the total funding amount to £1 million. The funding was led by the Austrian Pre-Seed Fund Calm/Storm Ventures, with participation from notable investors including business angels Hansi Hansman, Alfred Lugar, Alex Brix, and Christian Strobl, as well as Launchub Ventures, APX, Danish Chaudhry, Bernhard Niesner, and Niki Stadler.
Despite the growing interest in investing and personal finance, financial literacy remains low, leading to detrimental outcomes such as investment scams and high-risk behavior. Doshi’s app aims to tackle this issue by providing a hands-on approach to financial education, catering to young adults and helping them make informed financial decisions. “Doshi meets young adults where they already are, helps and supports them to take the right (financial) decisions. We are confident that the founders, Daniel and Jaco, may be able to catch the new generation where even Neobanks fail,” said Lucanus Polagnoli, Partner at Calm/Storm.
The additional funds will be utilised to expand Doshi’s unique gamified learning experiences into the realm of financial services. With a vision to empower financial institutions, Doshi aims to offer enjoyable and interactive bite-sized learning experiences to enhance financial literacy among their members. Additionally, the company is developing AI-based features to personalise the learning experience, incorporating elements such as celebrity chatskins, open-ended questions, and custom missions. “Our goal is to leverage AI to make learning about money as fun as playing a game which happens to increase knowledge and develop financial skills,” explained Jaco Koenig, CTO of Doshi.
In its expansion plans across the UK, Doshi intends to initially collaborate with community-focused banks, recognising their interest in promoting financial literacy within their communities. “We discovered that many local banks have a vested interest in building financial literacy in their communities,” said Daniel Rose, CEO of Doshi. “Partnering with us gives them an avenue to innovate, build insights around their customer pain points, and reach younger audiences.” Doshi has already achieved success in the education sector, forging over 30 school partnerships and empowering thousands of students to become financially independent from an early age.
