Airfox partners with nonprofit to support financial literacy
$22K startup pitch prize donated to sponsor financial education classes for students
Financial literacy should be common knowledge. Unfortunately, we’re not there yet.
22% of teen students in the U.S. lack basic financial literacy skills such as how to generate, invest, spend, and save money. Financial literacy remains a critical barrier to financial inclusion globally. In a Brazil, 56% of families do not create a budget and 69% had not saved any income over the last 12 months.
In support of economic empowerment, Airfox is proud to announce a partnership with nonprofit Junior Achievement. This global organization aims to foster work-readiness, entrepreneurship, and financial literacy skills for students. Junior Achievement’s mission is to “inspire students to dream big and reach their potential.”
Airfox was awarded the $22,000 grand prize for Best Startup and Best Business Model at the CODE_n startup pitch competition, our team wanted to donate the winnings to meaningful cause. Spending time with the young people of Brazil further inspired our mission of bringing financial inclusion to these underserved communities.
Airfox was eager to sponsor financial education courses focused on preparing young people to succeed. These five-part training courses will be available at two public schools in Brazil. The experiential classes will teach students how to create healthy habits and prepare for a financially stable life. Altogether, the money donated will impact nearly 200 students.
Reading is valued as a necessary skill. Reading bank statements? Not so much. Students must be taught the skills required to create wealth for their families and communities. Exposures to the realities of interest, financing education, and the virtues of savings will help students transition into independent adults.
To learn more about nonprofit Junior Achievement and the value of financial literacy, please visit juniorachievement.org.
Airfox is on a mission to provide the more than four billion underbanked people in emerging markets with mobile access to capital and financial services. The Airfox app, available on Android, eliminates the need for traditional financial institutions and enables unbanked users without bank accounts or credit cards to engage in eCommerce and other mobile payment options. The Airfox plans on also developing a peer-to-peer lending platform matches lenders around the world to borrowers in developing countries using AirTokens (AIR), an ERC-20 token built on the Ethereum blockchain. Airfox has offices in Boston and São Paulo. To learn more about the future of banking, visit www.airfox.com.