About Us | Modak Makers

You're not alone

$10,000

Annual money reportedly lost by more than 15% of survey respondents due to lack of financial literacy⁴

Many of the challenges kids face today stem from a common root cause: insufficient financial literacy and a lack of tools to build it. The consequences of this gap often become apparent years later (NFEC, 2022).⁴

A lot of people come out of [school] without having been taught financial literacy in any detail.

- Denis P.

To me, the bottom line is that to live the life you want to live, you need to understand how to manage money,

- Dan M.

Our solution

The Modak Visa® Debit Card and family app provides the perfect solution  for kids & teens to learn by doing.
With no required monthly fees*, all families can incorporate financial learning into their everyday lives.

App for families, debit card for kids and teens

Checking account and the Modak Visa® debit card issued by Lewis & Clark Bank, Member FDIC.

Unlock your kid’s future

Have your kid earn rewards for learning about financial topics and practicing healthy habits like walking, reading, and more.

A Debit Card that has it all

The card, which is shipped for free, offers spend monitoring and can be added to Apply Pay and Google Pay for seamless contactless payments.

More than just a money app

One app for everyone. Parents can manage chores, allowance, and savings, and fund their kid’s account. Kids learn and get rewarded.

The team

Our team, comprised of experts from diverse backgrounds in finance, product, technology, operations, and marketing, is driven by a bold mission to create financial solutions for the next generation. Together, we are pioneering a future where financial empowerment knows no boundaries.

We are led by our Co-Founder and CEO, Madhu Yalamarthi. A former Venture Capitalist with extensive experience in fintech and education, and an MBA from Stanford Graduate School of Business with the Arjay Miller Scholar distinction - Awarded to the Top 10% the graduating class.

Seeking answers? FAQ to the rescue!

How does Modak keep sensitive personal info safe and secure?

We have implemented several ways to protect your personal information:

Encryption: All sensitive information is encrypted in transit standard protocols.
Access controls: Access to sensitive information is restricted to a limited number of authorized personnel, who are subject to background checks and ongoing security monitoring.
Data protection policies: Modak has established strict data protection policies, including data retention and deletion policies, to ensure that sensitive information is not retained for longer than necessary.
Compliance: Modak adheres to relevant security and privacy regulations, including those imposed by the Consumer Financial Protection Bureau (CFPB), to ensure that sensitive information is handled in a manner that meets the highest standards of security and privacy.

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Are there any fees?

There are no hidden fees associated with Modak. We don't charge for opening a card and most of our services. However, if you need expedited or premium services, our app will show you and ask for your permission before charging the fees. For example, we charge $0.50 for debit cards (and 3% extra for credit cards and Apple/Google Pay) when you load your kid’s modak card with your debit or credit cards. Do note that our normal ACH - funding via your other bank accounts - is free.

How old do I have to be to join Modak?

To sign up, you should be below 18 years old. Your parent or guardian will be the account holder, allowing you to use it.

Building a better financial future

You're not alone