Akudo is India's learning-first neobank which provides personalised debit cards and provides financial lessons in bite size videos to teenagers and rewards their saving habits.Founded by Lavika Aggarwal,Sajal Khanna and Jagveer Gandhi, the ed-fintech app has around 1 million userbase aiming to further expand to 5 million households in India.

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Young Entrepreneurs
L a v i ka A g g a r w a l , S a j a l K h a n n a a n d J a g v e e r G a n d h i
( Fo u n d e r s o f A k u d o Te c h n o l o g i e s P v t . L t d . )
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Biography
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• Lavika Aggarwal is an alumni of Indian Institute of Technology, Roorkee and a former employee at Capital
one having expertise in compliance and risk management.
• Sajal Khanna, being one of the co-founders of Akudo, is an alumni of BITS Pilani and formerly worked at
Capital one in the Auto-finance vertical on credit analytics and data science.
• Jagveer Gandhi is also an alumni of Indian Institute of Technology, Roorkee and he is a passioante individual
of technology, software and data, finance, philosophy, and physics.

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Business Venture
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• Founded in August 2020 by Lavika Aggarwal, Sajal Khanna, and Jagveer Gandhi, Bengaluru-
based ed-fintech startup, Akudo Technologies Pvt. Ltd. is a neo-bank which provides
personalised prepaid visa cards to teenagers and promotes financial first learning
environment through various features.
• While working on a pitch for business stakeholders in the US at ‘Capital One’, Sajal and
Lavika realised there was a massive gap in financial learning in 2020 and it was proved that
people were clueless about loans and their functions. As a result of this research, the
founders came up with an application to guide teenagers with financial literacy at a very
young age.
• In this app,teens are rewarded for their good financial behaviour through engaging gamified
reward systems which make practical learning fun and engaging. The startup offers a one-
stop solution for learning money management through awareness, practice, and habit
building.

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Product Features
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• Akudo is a dual-sided app where one interface is for teenagers to receive money
from parents, and the other for parents to send money to their children.
• A teenager can easily sign up on the app which is available on both Android and iOS
and after completing the KYC process a link will be sent to parents and the teenager
can receive money in their prepaid Visa card.
• Also, the learning section of the app allows users to unlock various rewards every
time they watch educational videos on finance and the same can be tracked through
a ‘journey map’ on the app. For this particular feature, the operating team charges
a small fee and margin.

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Market and Funding
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• In September 2021, Akudo said it has raised $4.2 million in a seed funding round led by Y Combinator, JAFCO
Asia, Incubate Fund India, and AET Fund.
• As of February 2022, the start-up has registered 1 million users on its platform with their user base being
around 50% of the 1 million users from Tier 2 cities such as Patna, Lucknow, Indore, Ranchi, and Chandigarh
with monthly spends equal to users in Tier 1 cities like Bangalore, Delhi, and Mumbai
• Further, co-founder, Lavika Aggarwal commented that the funding will help them to find the right team
and add many features which will make learning more enjoyable for teenagers.

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Branding and Advertising
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• In 2022,Akudo had launched an ad campaign titled ‘Not Safe to Save’, with the
aim to encourage more teens to develop good financial habits.
• In a 30-second ad campaign, Akudo used irony as a tool to highlight its key feature
‘Savings Partition’, claiming that they are the first neobank to educate teenagers
to be more financially literate.
• The startup aims to create financial awareness and encourage good financial
behaviour amongst GenZ and giving teens a platform to experience financial
independence and acquire financial skills from a young age.

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Thank You
By Samyuktha.G