Malar Group has made a strategic investment in Spendsafe, Canada's first Mastercard-backed financial literacy platform for youth, to promote financial education and empowerment among the younger generation.

Information on the Target

Malar Group, under the leadership of CEO Sayan Navaratnam, has made a strategic investment in Spendsafe, a pioneering fintech platform that is transforming the way families educate children about money management. This investment underscores Malar Group's commitment to supporting mission-driven businesses that create social impact through innovative technology.

Spendsafe stands out as Canada’s first and only Mastercard-backed financial literacy platform tailored specifically for youth. It integrates a secure reloadable financial card, AI-driven coaching, and interactive parent-child financial tools. Designed for children and teenagers aged 6 to 18, Spendsafe turns everyday spending into valuable learning experiences aimed at fostering financially responsible young adults.

Industry Overview

In Canada, financial literacy among youth has become a critical issue, as research indicates that a significant number of students lack basic money management skills. This has prompted various educational and financial