The Danish fintech platform has landed a new investment from the IT company Trifork. In connection with the investment, Trifork aquires an equity interest of 25% in Young Money.
Young Money was originally launched by Spar Nord as a service for parents and children to use to collaborate on children’s daily budget and financial understanding. Later, Nykredit and Arbejdernes Landsbank joined as co-owners, and with its new investment, Trifork has also joined as a co-owner.
Young Money has developed an app for Danish children which has more than 40,000 users and processes 20,000 transactions every month.
Accura advised Young Money in connection with the investment.