Twenty-year old Duke University student, Bolun Li, became the youngest presenter to win “Best of Show” at Finovate. Bolun introduced his startup’s app, Zogo, which pays teens to learn financial literacy.
The startup claimed audiences’ vote against seventy-eight international companies, including serial entrepreneur, Kevin O’Leary, who was also among the presenters. Li demonstrated the Zogo app to over 1,500 banking executives, venture capitalists, regulators and entrepreneurs from around the world. Previous showcase winners include companies like Mint and Credit Karma.
Founder of Finovate Group, Jim Bruene, live tweeted “Gamifying financial services education for tweens/teens is a great mission. @ZogoFinance is off to a good start.” Zogo partners with credit unions or banks looking to attract Gen Z consumers and spread brand awareness for their respective communities.
After experiencing how the lack of financial literacy affected his first post-exit success, the Zogo co-founder knew most young people struggled with this issue. Li envisioned creating financial literacy tool to supplement traditional school programs. “We wanted to make sure our peers have access to the best experience learning financial literacy as they grow up. Being Gen Z ourselves, we know how to engage this demographic. It’s incredible to see the energy around our product so far,” said Li.
The learning platform teaches teens through 300+ bite-sized learning modules with topics ranging from simple subject matters like budgeting to more complex themes such as investing. Each module consists of five concepts that are tested with a short quiz. Users can earn points, in the form of pineapples, that are redeemed as gift cards to stores like Amazon, Sephora, and Adidas.
Zogo is participating in the MetLife Digital Accelerator powered by Techstars, and will make a big announcement during Demo Day on October 10th in Raleigh, North Carolina. Follow Zogo live on Twitter @ZogoFinance to hear the update.
The Finovate Group is a research and events firm focused on innovation in financial and banking technology. Its team runs the Finovate conference series and authors the popular Finovate blog. Finovate is the only conference series focused exclusively on showcasing the best and most innovative new financial and banking technologies.
Zogo is a financial technology company based in Durham, North Carolina. It helps financial institutions engage GenZ through a teen financial education app that pays kids to learn. Key investors include Techstars and former CEO of Sageworks.