Meet the IIT Roorkee grads who co-founded FamPay, the neobank for teens

The firm provides also financial literacy to teenagers, who have few options to open a bank account at their age; It crossed 2 mn users within eight months of launch

Teenagers today have many options to choose from in every aspect of life. As the world increasingly becomes more connected and online, fueled further by the pandemic, responsible online spending and investment options are an area that is increasingly becoming more lucrative for this age group.

But how do they go about understanding what their options are and how to get started? Enter FamPay, India’s first neo-bank for teens. 

FamPay was founded in 2019 by Indian Institute of Technology (IIT) Roorkee graduates, Kush Taneja and Sambhav Jain while still in college.  

"To begin with, we had thought since we’re making