UAE money manager for kids Edfundo appoints three specialists

Edfundo, the transformative smart money management app for kids and teens set for launch in the UAE, has appointed three key specialists to its advisory board.

UK based David Parker, who has advised GoHenry, the UK finance app for teens that launched in 2012, and is well known as a leading E-money emerging payments specialist, is joining the Advisory Board of UAE newcomer neobanking model Edfundo.

David joint the Advisory Board alongside Saudi-based FinTech & Business Development specialist Saleh AlHammad and UAE-based Brand and Communications professional Susan Furness, and additionally brings Finance & Emerging Payments experience to the board.

“These are important additions to the Edfundo team as we near the launch of the world’s first smart money management app for kids and teens built by teachers,” explained Simon Wing, Edfundo co-founder and CEO.

“David, together with Saleh and Susan have extensive experience across their relative fields spanning the Kingdom of Saudi Arabia and the UAE, as well as the greater region and international markets which we can leverage to ensure a successful launch and development of the Edfundo offering.”

David, the founder and CEO of Polymath Consulting who was previously based in the Middle East for a number of years, has extensive experience with payments having worked with GoHenry and other clients such as Monese, Monzo Bank, Mastercard, Visa, American Express and FIS to name just a few.

David, an active fintech investor, is also a key advisor to UAE-based Nymcard and sits on a number of boards. He advises Fintechs globally including 3SMoney, Curve, Swiipr, Unizest and Cinnte, along with co-founding Konsentus.

“Edfundo will address a pressing societal issue in the lack of financial literacy among our youth and as such is a very worthwhile brand with which to be associated. Having worked with GoHenry in the UK and USA and having seen first-hand with my own child how effective a money management app can be in educating children, I am sure that parents like me will be quick to adopt the solution for their children.” said David.

Meanwhile, Saudi national Saleh, the Country Director of Open Bank Exchange which helps communities find practical solutions to open banking and open finance, has extensive Fintech, IT. and service industry experience. His business development prowess spans business planning, international business, new market entry and scale up, venture capital and start-ups. Saleh specialises in open and neobanking, API, payment, wealthtech, and AI in finance, and has helped various companies in validating business models, go-to-market strategies as well as acquiring and maintaining regulatory licenses. He also serves on the boards of corporates, government committees, business councils, and NGOs.

“Edfundo stands out because it is designed by teachers who understand how kids learn best. The co-founders both have an in-depth realisation of the financial literacy gap and have a determination to address it,” said Saleh.

“Financial education for youngsters is surely one of the most underrated areas of education which should concern most parents. There is a lack of understanding of the basic principles of personal finance which if tackled can literally change the future prospects of many of today’s digitally native kids.”

Like David, Susan also hails from the UK and swapped the River Thames for Dubai Creek more than 35 years’ ago. Her experience in the Gulf markets is as a high-impact strategic and trusted advisor to successful starts-ups, established corporate entities and businesses ready to scale up via new market entries, product launches and IPO preparedness.

“Edfundo has a great story to tell, and its narrative will constantly evolve in line with its offering. It is an exciting brand for exciting times and one which has strong educational and societal impact potential which has drawn me to it, and which will equally appeal to its many prospective parents,” she said.

Susan is also an Advisory Board member with UK-based Gridserve, the tech-enabled sustainable energy business presently rolling out Electric Forecourts in the UK with the ability to charge over 36 electric vehicles swiftly, safely and simultaneously.

Edfundo, the world’s first smart money management app and associated pre-paid debit card built by teachers for use by kids and teens, will enable parents to securely control their youngsters’ spending habits and boost their money management abilities.

It has been created by Simon Wing and Andrew Toward, former teachers in the UK and more recently at Dubai’s Rashid School for Boys. The British duo, who have over 15 years’ UAE experience, have used their combined education experience of over 20 years to address a pressing need for financial literacy, in the first instance among the Emirates high spending youngsters.