Malar Group, a global investment firm led by CEO Sayan Navaratnam, has announced a strategic investment in Spendsafe, a fintech platform focused on financial literacy for children and teens aged 6 to 18.
Spendsafe is Canada’s first and only Mastercard-backed financial literacy platform built specifically for youth. It combines a secure reloadable card, AI-powered coaching, and dynamic parent-child financial tools. The platform, designed for ages 6 to 18, aims to transform everyday spending into real-world learning experiences to foster financially confident young adults. Spendsafe launched nationwide in August 2025.
Led by founder and CEO Vasanth Ratna, Spendsafe recently announced a partnership with Mastercard Inc., Berkeley Payments, and Peoples Group. This collaboration enables the delivery of a full-stack financial education solution supported by secure payment infrastructure and real-time coaching. Vasanth Ratna stated, “Malar Group’s investment is a pivotal milestone in our journey. Sayan Navaratnam and his team bring deep operational expertise and a values-driven approach to scaling technology with purpose. This partnership will accelerate our mission to empower young people with the tools they need to thrive financially.”
The investment aligns with Malar Group’s commitment to backing mission-driven companies that drive social impact through transformative technology. Under Sayan Navaratnam’s leadership, Malar Group has cultivated a diverse portfolio spanning AI, digital infrastructure, education, and fintech, with a consistent focus on advancing technologies that address real-world challenges.
The initiative also addresses a growing financial literacy gap among youth. Studies indicate that 75% of teens express a desire to have learned money skills earlier, and only 38% of Gen Z demonstrate proficiency in financial education assessments. Malar Group CEO Sayan Navaratnam commented, “At Malar Group, we believe financial literacy is one of the most important skills a child can learn. Spendsafe is solving a generational challenge – bridging the gap between digital finance and real-world learning in a way that’s engaging, responsible, and scalable. We’re proud to support their growth.” He added, “The most impactful innovations are those that improve how we live, learn, and lead. Spendsafe represents a generational opportunity to build healthier relationships with money – starting at home, with the next generation.”
With the support from Malar Group, Spendsafe is positioned for rapid expansion across North America and plans to develop new tools to meet the evolving needs of modern families. Financial terms of the investment were not disclosed.
