Status Money and CentSai Announce Partnership to Expand Access to Financial Education
NEW YORK, NY, February 11, 2020 — CentSai and Status Money announced today that they have teamed up to expand access to financial education and wellness.
Financial education has never been more important, with U.S. household debt hitting an all-time high of $14 trillion ($1.3 trillion higher than the previous peak in 2008) and only 17 percent of Americans aged 18 to 34 having basic financial literacy, according to FINRA’s latest Financial Capability Study.
Status Money is a social financial app that enables users to anonymously compare financial statistics and crowdsource advice from peers. The company recently disclosed having more than 263,000 users and over 100 corporate advertisers.
CentSai teaches finance through storytelling and expert tips to help consumers navigate financial products from a place of knowledge instead of fear. Through personal stories, guides, and quizzes, CentSai makes planning and managing your finances fun, easy, and less intimidating.
Under the partnership, CentSai will provide Status Money users with relevant content to help them learn important financial concepts and build healthy money habits.
“We’re excited to team up with an organization that’s going to transform financial services,” said Arindam Nag, cofounder of CentSai. “Our content will enable Status Money users to understand the complex financial world through enjoyable learning tools and experiences.”
“CentSai’s unique approach to financial education makes it fun and accessible,” added Majd Maksad, founder and chief executive of Status Money. “This partnership creates a force multiplier that will enable us to empower millions of Americans with powerful financial tools and information.”
CentSai’s mission is to make learning personal finance skills approachable and fun for young Americans through every stage of life. CentSai provides financial wellness education through its two platforms — CentSai, which serves millennials and Gen Xers, and CentSai Education, which serves teachers. Both platforms spread invaluable personal finance information through personal stories, videos, expert tips, Q&As, podcasts, and more.
About Status Money
Status Money is a New York–based fintech company that calls itself “the social app for your money.” It provides a free financial management platform that shows users how their finances compare with peers and enable them to crowdsource financial advice. Status Money was founded in 2016 by former Citi and Goldman Sachs analytics executives. For more information about Status Money visit: https://statusmoney.com.