The tumultuous 2020 goes to its end and Gimi looking back with both pride and fascination on the past year. That Gimi, as a small Swedish startup, has made impression and created impact in both the Nordics and the Baltics is, to say the least, admirable. And after more than five years of intensive work, the long-awaited reward finally arrives - Mastercard nominate Gimi as the most promising fintech company in the Nordics and Baltics!
The need for education in personal finance has never been greater
Since the start in 2015, Gimi has fought for children's financial education and as a challenger in an otherwise traditional industry, where the focus is on spending money, Gimi has over and over again had to convince the market of its vision. The battle for children's financial education has at times been tricky and the business case, with the aim of encouraging reflection, impulse control and long-term savings, has not always been appreciated by industry colleagues.
In 2020, however, it was possible to foresee a change. As alarming numbers from OECD, The Enforcement Authority and other important social authorities came recurring, the interest in young people's financial skills became stronger. That today's fast-moving smartphone generation with a few simple clicks can make impulsive decisions that lead to serious financial consequences, suddenly became very clear.
Three times winner of the Lighthouse Program
Gimi aims to stop this negative progress and through both theoretical education and practical exercise, the pocketmoney app has today become one of the most used applications in many children's mobile phones. So when Mastercard's Nordic and Baltic partners gathered for this autumn's Lighthouse Program, the interest in Gimi was therefore great and on November 19 it was clear that an actual turning point had come! Young people's financial education ended up as a top priority and Gimi became the winner of both The Sweden Program Award and the People's Choice Award, but was also able to enter the stage as the winner of the entire Mastercard Lighthouse Program fall 2020. Mastercard's Head of Digital Development and Fintech Engagement in the Nordics and Baltics, Mats Taraldsson, manages to describe it in the following way,
"Here in the world's most cashless society, children need new ways to learn how to manage money. Innovative technology and the latest research are important building blocks for creating an inclusive economic ecosystem that gives the next generation the opportunity to understand the value of money and take responsibility for their finances. Gimi offers all this.", says Mats Taraldsson
A free card to the Mastercard Start Path
The fact that Gimi won the first place in the Mastercard Lighthouse Program means an increased opportunity to develop the business case and a strengthened confidence in the work of providing the next generation with financial education. As a winner, Gimi will also have the opportunity to compete in Mastercard Start Path, a global initiative aimed at supporting fintech companies' expansion into new markets and their opportunity to grow internationally. Gimi's CEO Philip Haglund describes what the win means;
“Financial education for children has been a topic in the background for too many years now, so this award means so much - not just for Gimi, but also for our coming generations! The future is bright, for the very first time organisations, institutions and banks are striving in the same direction where children become a part of our financial landscape and have the opportunity to gain a financial education" says Philip Haglund
Tough competition in 2020's edition
This autumn's Lighthouse Program offered an unusually tough competition and among the 15 finalists, four more Swedish companies were represented; Ponture, Charge, FossID and Youcal. The program was based on a number of workshops and included close collaboration with the largest banks in the Nordic and Baltic countries. During the intensive workshop months, it became clear that Gimi had borne fruit for the past five years. The endurance, the goal focus and the drive that the company has, provided to be worth every effort. Lisa Chapuis, COO at Gimi describes;
“For us, this is a big team victory, showing how good we are together! At Gimi, we couldn’t be more thrilled and thankful! Now, let’s do our duty and provide children with Financial Superskills for Life!” says Lisa Chapuis
Humble, happy and hopeful!
The tumultuous 2020 is now coming to an end and Gimi looks back with both pride and fascination. Humble, happy and hopeful - three words that can sum up the feeling that society has finally reached a turning point. A new 2021 awaits and at Gimi the light of diligence shines brightly!