AV俱乐部

Published Monday by The Chronicle Herald:

After a long and hectic summer, a group of entrepreneurs from AV俱乐部 will unveil their financial app Purchext to angel investors in Toronto Tuesday as the final segment of the gruelling Next 36 course.

Purchext is a company formed at AV俱乐部 last spring and its founders 鈥� Cam McDonald, Zachary Levy, and Daniel Bartek 鈥� took the project to the Next 36 program, a three-month academic/mentoring program for undergraduate entrepreneurs. The graduation from the program includes pitches to angel investors.

Having worked and reworked their proposal and technology over the summer, they have settled on a product that helps parents contribute to and monitor their teenager鈥檚 money. The team has also landed a major Canadian bank as its first customer, and they hope to launch a pilot project in October or November.

鈥淲e鈥檝e built a mobile banking app for teenagers,鈥� said McDonald in an interview Sunday. 鈥淚t鈥檚 a platform where teens can ask for money from their parents, receive money from their parents and manage the money they have.鈥�

As well as the pilot project with the bank, Purchext is searching for about 50 parents to participate in a beta test of the project in the next few months and provide feedback on how it works.

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