Index et al. invest $10m in Osper

Osper, which also provides an accompanying app for the family, has announced the funding round in conjunction with its official public launch today (30 June).

Travelex CEO Peter Jackson, former Sainsbury's Bank chairman Darren Shapland and several other business angels invested in the start-up alongside Index and Horizons.

Horizons is the Hong Kong-based venture firm of Li Ka-Shing, reported to be Asia's richest man.

Company
Founded in 2012 and headquartered in London, Osper has developed a Mastercard pre-paid debit card for 8-18-year-olds in the UK. The accompanying mobile app is available on Google Play or the Apple App Store.

The app has separate logins for both parents and children, allowing parents to monitor spending and transfer money.

Osper cards can be used online, at ATMs and in stores. The service is free for the first year and costs £10 a year from then on.

People
Osper was founded by Alick Varma. Robert Klein represented Index on the deal.

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• Topics
• Early-stage
• UK / Ireland
• Financials
• United Kingdom
• Index Ventures