Tendy will use WealthKernel’s core investing infrastructure, including trading and custody services, fractional stocks and exchange-traded funds, client onboarding, and access to different account types.
With tendy, parents can open investment accounts for their children in the app, then approve and buy any stocks their children would like to invest in.
Using WealthKernel’s infrastructure, tendy is planning to launch its app early next year.
Jamie Collie, chief executive officer of tendy, commented: “tendy is the first educational investing platform for UK teens. Our mission is to bring responsible investing to the next generation.
He added: “WealthKernel was the natural choice for us given their stellar reputation for powering disruptive fintech platforms.”
Alex Bonnet, chief technology officer of tendy, said: “From an engineering perspective I found WealthKernel’s detailed documentation and coherent API design to be best in class.
“Getting started with the platform was quick and easy, allowing us to plan and execute our development roadmap with confidence.”
Collie and Bonnet co-founded tendy this year to provide an investment platform for teens.
The platform uses interactive learning activities around investing to improve financial literacy.
Karan Shanmugarajah, chief executive officer of WealthKernel, said: “Financial literacy is critical for children to understand how to save and invest money in life for a better future.
He added: “The aim is to encourage discussion around the way we manage money—and a key focus is enabling children and young people to develop good money habits.”