Woli

What Woli does

Woli is a Cypriot-headquartered, Greek-operated fintech that provides a family banking platform combining a prepaid Visa debit card and mobile app ecosystem for children aged 8-18 and their parents. The company operates as an E-money Agent under Paynetics AD (a Bulgarian-authorized EMI) and distributes cards issued by Payrnet UAB (a Bank of Lithuania-licensed EMI), with KYC handled by Sumsub. The core product consists of separate parent and child apps, an automated allowance system, real-time parental spending controls with MCC-based merchant category blocking, biometric/passcode authentication, and gamified financial education via Woli Academy (interactive lessons and quizzes). Supplementary modules include Woli Chores (task-based rewards), Money Goals (savings tracking), Pay Friend (P2P payments within the Woli network), Woli Gift (family/friend monetary gifting), Woli Marketplace (vouchers, mobile top-ups), and Woli Cashback.

The business model is primarily subscription-based: a 30-day free trial converts to Basic at €2.99/month per child or Academy annual at €29.99/year per child, with a free Starter tier for low-transaction users. Ancillary revenue is generated through physical card issuance (€6.99), monthly top-up fees after the first free top-up (1% + €0.10), international transaction fees (2% + €0.20), Woli Gift service fees (€2.00 per transaction), account unload fees (€5.00), and chargeback processing fees (€35.00). Distribution is exclusively digital via Apple App Store, Google Play, and Huawei AppGallery across Greece, Cyprus, and Italy (EEA except Malta, Germany, Austria). The company claims 2,000+ families and a 4.4/5 app store rating.

Woli was founded in 2020 by co-founders Vasilis (Zoupas, CEO) and Filippos, who have 10+ years of experience in technology and digital payments. The company has raised €700,000 in seed funding (January 2023, with additional capital from Genesis Ventures and SeedBlink cited separately). Strategic partnerships span card-network infrastructure (Visa, Mastercard, Paynetics, Payrnet), education vertical (Avgoulea-Linardatou Schools, The Ranch Children's Camp), retail and brand promotions (Patakis Publications, Goody's Burger House, Zakcret, Swaplanet, Poukamisas), insurance (Hellas Direct), travel (ekdromi.gr), and charity (Givelink). As of the most recent website content, the company is not accepting new customer registrations.

Name

Woli

Legal name

Woli Services Ltd

Website

https://woli.io

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Woli is a Greek/Cypriot fintech providing a prepaid Visa debit card and family banking app for children aged 8-18 and their parents, operating as an E-money Agent across Greece, Cyprus, and Italy with subscription, transaction-fee, and card-issuance revenue streams.

Ownership category

akta.pro rank

Product category

Children's Digital Banking

NAICS

Credit Card Issuing (52221), Activities Related to Credit Intermediation (5223), Credit Card Issuing (522210)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Youth / Family Wallets & Allowance Payments (FSAMAEAK)

akta.pro secondary industries

Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK), Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB)

Keywords

• Children's banking app
• Family financial management
• Youth debit card
• Parental spending controls
• Financial education platform

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Monthly Subscription (per child): Core revenue stream: 2.99 EUR per child per month. Fee includes virtual Woli Card, full app access for parent and child, real-time notifications, and customer support. Subscriptions auto-renew monthly on account activation anniversary. Subscription is mandatory to operate a child account and card.
2. Annual Subscription (per child): Annual subscription at 29.99 EUR per child (effectively 10 months paid for 12 months access). Provides ~20% savings vs monthly billing.
3. Physical Card Issuance Fee: First physical Woli card: 6.99 EUR (includes postage within EU). Replacement cards (lost/stolen): 6.99 EUR. Replacement for expired cards: free.
4. Card Top-up Fees: First monthly card top-up via debit/credit card is free. Subsequent top-ups in the same month incur 1% + 0.10 EUR fee. SEPA bank transfers are always free (may have bank charges).
5. International Transaction Fees: International POS/online transactions (outside SEPA): 2% + 0.20 EUR per transaction. ATM international: bank/ATM charges apply.
6. Woli Gift Service Fee: Service fee of 2.00 EUR per gift transaction. Maximum gift per transaction: 100 EUR + service fee. Maximum 5 gifts per child per month.
7. Account Unload Fee: Manual unload of parent account to bank account: 5.00 EUR fee (handled via Woli support).
8. Chargeback Processing Fee: 35.00 EUR fee for chargeback processing.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels12 records

Core offering

Woli provides a regulated family banking platform built around a mobile app ecosystem (parent app + child app) bundled with a prepaid Visa debit card for children aged 8-18. The platform combines automated pocket money/allowance, real-time parental spending controls, merchant category blocking, P2P payments, in-app marketplace, and gamified financial education (Woli Academy). Cards are issued through licensed partner EMI Paynetics AD / Payrnet UAB, with funds held in segregated accounts at European banks, and the service is operated under E-money Agent regulation.

Product overview

Woli is a family banking platform combining a mobile app ecosystem with a prepaid Visa debit card for children aged 8-18. The core offering consists of the Woli Parent App (for managing finances and parental controls), Woli Child App (for kids to manage money), and the Woli Visa Debit Card (physical and virtual). The platform is enhanced through subscription tiers (Starter, Basic, Academy) and integrated modules including Woli Academy (financial education), Woli Marketplace (vouchers and mobile top-up), Woli Gift (monetary gifting), Woli Chores/Tasks (reward-based earning), Woli Savings/Money Goals (savings tracking), Woli Cashback (rewards), Pay Friend (P2P payments), and Woli Offers (partner discounts). The service is regulated as an e-money agent and issued through Paynetics AD.

Differentiator

Problem solved

Functional benefit

Products and services

• Woli Family Banking App (Parent & Child) Mobile banking application for parents and children to manage family finances, automate pocket money payments, set spending controls, monitor transactions in real-time, and manage child accounts. Designed for families with children aged 8-18.
• Woli Visa Debit Card Physical or virtual Visa prepaid debit card for children aged 8-18, enabling online and in-store purchases with parental spending controls, real-time notifications, and merchant category blocking. Issued by licensed EMI Paynetics AD and accepted globally at Visa merchants.
• Woli Academy Financial education platform with interactive lessons and quizzes tailored for children and teenagers to learn money management, budgeting, saving, and investing principles. Accessible via the Woli app as part of the Basic and Annual subscription tiers.
• Woli Gift Monetary gifting service allowing friends and family to send monetary gifts to children via gift.woli.io using a unique gift code. Includes a 2.00 EUR service fee per transaction. Maximum gift per transaction: 100 EUR + service fee; maximum 5 gifts per child per month.

Quantifiable outcome

• 2,000+ families use Woli for family financial management
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

15 partnerships are on record, tiered flagship, core and minor.

• Avgoulea-Linardatou SchoolsflagshipStrategic or Co-development Partner · 1 September 2024First-of-its-kind partnership where Woli's digital, experiential technologies frame and enhance a school's financial literacy educational efforts. Woli provides interactive tools for teaching children money management while solving school operational challenges (cafeteria cash management, extracurricular activity coordination). Woli aims to expand similar partnerships with educational organizations.
• The Ranch Children's CampflagshipStrategic or Co-development Partner · 1 January 2024Creates the first 'cashless' children's camp in Greece. On a 330-acre natural site 97km from Athens, Woli enables cashless transactions for campers, reducing staff cash management burden and providing parents real-time transaction visibility. Parents can transfer funds, receive notifications, view reports, and set spending limits via the app.
• Paynetics ADcoreTechnology or IntegrationPaynetics AD is the Electronic Money Institution (EMI) that issues Woli's Visa and Mastercard debit cards. Based in Sofia, Bulgaria, Paynetics is authorized by the Bulgarian National Bank and is a principal member of Visa and MasterCard. Woli acts as an E-money Agent of Paynetics, with funds held in segregated accounts at European banks. This is a critical infrastructure partnership enabling Woli's core product.
• VisacoreTechnology or IntegrationWoli is a Visa debit card issuer, authorized under Visa's program. The Woli Card is a Visa-branded prepaid debit card accepted globally at merchants accepting Visa. Woli is also a participant in the Visa Innovation Program.
• MastercardcoreTechnology or IntegrationWoli's card is issued by Payrnet UAB (a Paynetics group company) which is a principal member of Mastercard. The Woli Card carries Mastercard branding and is accepted at Mastercard merchants globally.
• UAB Payrnet (Payrnet)coreTechnology or IntegrationPayrnet UAB, based in Vilnius, Lithuania, is a licensed Electronic Money Institution authorized by the Bank of Lithuania (license reference 72, issued 2020-08-28). Woli is a distributor of Payrnet for card issuance in the EEA. Payrnet handles card production and dispatch, and its terms and conditions govern card usage.
• SumsubcoreTechnology or IntegrationWoli uses Sumsub's KYC (Know Your Customer) verification technology for identity verification during parent onboarding. This includes document capture, selfie biometric matching, and liveness detection to ensure secure identity verification.
• Patakis Publications / Vivliopoleio PatakicoreGTM or Marketing PartnerBack-to-school partnership offering 35% discount on books published by Patakis. The physical bookstore at Akadimias 65, Athens serves as pickup location for promotional winners. Over 190,000 titles available.
• Hellas DirectminorGTM or Marketing PartnerInsurance partner offering Woli users 10% discount on car and home insurance premiums. Discount codes available in users' Woli app profiles under Woli Offers.
• SwaplanetminorGTM or Marketing PartnerSustainable children's fashion platform partnership offering 30% discount on children's clothes, shoes, books, and toys. Users save up to 80% compared to retail prices.
• ekdromi.grminorGTM or Marketing PartnerLargest Greek travel site partnership providing exclusive hotel and travel offers accessible through the Woli app. Covers Greece and international destinations for all seasons.
• Poukamisas PublicationsminorGTM or Marketing PartnerEducational publisher partnership offering 5% discount on books published by Poukamisas Publications. Books condense many years of teaching experience and serve as core educational material for tutoring students.
• Goody's Burger HouseminorGTM or Marketing PartnerPromotional partnership with Greece's favorite fast-food chain featuring exclusive experiences at GBH Glyfada store. Combines GBH's food with Woli's digital convenience.
• ZakcretminorGTM or Marketing PartnerSports and sportswear retailer partnership at the Ermou street store, combining Zakcret's quality sportswear with Woli's digital family finance platform.
• GivelinkminorStrategic or Co-development PartnerCharitable giving platform partnership enabling Woli families to donate directly to verified Greek charities based on actual product needs. Donors can track their donation step-by-step and receive photos when products reach organizations.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Greenlight: Greenlight is a US-based debit card and app for kids and teens with parental controls, chores, savings goals and financial education. Closely mirrors Woli's product model (prepaid card, parent/child apps, education layer), making it the most directly comparable peer.
• GoHenry: GoHenry is a UK-origin prepaid debit card and app for 6-18 year olds with parental controls, money tasks and in-app financial education. Operates in the UK and US with similar subscription pricing to Woli's Basic plan and an identical target customer.
• Step: Step is a US mobile banking platform purpose-built for teens and families, offering a Visa debit card, parental visibility, and credit-building features. Highly comparable product set and positioning to Woli in the youth banking niche.
• Current: Current is a US fintech offering teen and family accounts with a debit card, parental controls, and savings pods. Overlaps directly with Woli on parental oversight, prepaid card, and youth-targeted money management.
• FamZoo: FamZoo is a family banking platform with prepaid cards for kids, parental controls, chores/allowance automation, and in-app financial education. Long-standing direct competitor with overlapping features and a family-first value proposition.
• BusyKid: BusyKid is a US allowance and chore platform that issues a prepaid debit card for kids with parental oversight and financial literacy content. Similar in scope to Woli's allowance-plus-education model.
• Till Financial: Till Financial is a US-based family banking app issuing a prepaid debit card for kids with allowance automation, chores, and parental controls. Closely comparable product bundle and GTM focus on parents of school-age children.

Broad incumbents

• Revolut Junior: Revolut offers a Junior product for under-18s within its broader consumer neobank. As a much larger incumbent with Visa/Mastercard principal membership, it competes on breadth and brand rather than family-specialization, but threatens Woli wherever they overlap geographically.
• N26: N26 is a European neobank with account features for families and minors in selected markets. Operates broadly rather than specializing in youth banking, but is a credible adjacent incumbent competing for the same end customers.
• Starling Bank (Kite): Starling Bank is a UK challenger bank that has offered teen/youth account products (Kite). Established incumbent that competes for family banking wallet share in the UK/Ireland, a similar segment to Woli's Greek/Cypriot base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@woli
• Facebookfacebook.com/woliapp
• LinkedInlinkedin.com/company/woli-app
• Instagraminstagram.com/woli_app

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Woli