Paytm's ex-executive Shankar Nath built Junio a startup that is helping parents teach their kids’ money management
Shankar Nath, of Junio, says the age-old concept of pocket money has evolved over time. The startup is helping parents teach their kids’ money management. Shankar Nath, who jointly founded Junio, a kid-focused pocket money app, says, Pocket money was traditionally provided to children for offline purchases, but there is now a huge shift toward online and making in-app purchases while they are on Roblox or if they want to buy something on Amazon. Nath, who worked as Paytm's chief marketing officer for five years before co-founding Junio with his former colleague Ankit Gera in 2020, says the idea for a kid-focused pocket money app occurred to him while observing his 12-year-old daughter. "Children of the modern age are doing transactions online. But for the majority of transactions, they are still reliant on their parents' payment instruments," Nath explained. According to Nath, the epidemic and going cashless have fundamentally altered the piggy bank...