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Modak Launches MoGold, Introduces Parent Debit Card, and Surpasses 200,000 Accounts
MENLO PARK, CA, UNITED STATES, May 5, 2026 /EINPresswire.com/ -- Modak, the family-focused financial platform helping parents and kids build real-world money skills together, today announced the launch of MoGold, a new premium membership designed to help the entire family earn more from their money. The company also introduced its parent debit card and shared that it has surpassed 200,000 accounts nationwide.
Together, these milestones mark a significant step forward in Modak’s evolution from a kids-focused financial tool to a complete family financial platform.
From Teaching Kids About Money to Helping Families Earn Together
Modak has built its foundation helping kids learn how to earn, save, and spend responsibly. With MoGold, the company is extending that value to the entire household.
“Families don’t manage money in silos, and their financial tools shouldn’t force them to,” said Madhu Yalamarthi, CEO and co-founder of Modak. “With MoGold, we’re bringing parents and kids into the same system — where they can earn, spend, and grow together. This is a shift from teaching money to actually living it as a family.”
MoGold introduces a unified set of benefits across parents and kids, including:
- 4% Boost on kids’ savings and parent balances
- 2% cashback on eligible purchases
- Modak covers up to $25 per month in instant funding fees
- A single membership that applies across the entire family
Introducing the Parent Debit Card
Alongside MoGold, Modak is launching its parent debit card, giving parents a more active role in the same financial system their kids use.
“This is what makes the system work,” said Alvaro Montero, Head of Product at Modak. “When parents and kids are operating in the same environment, the lessons become real — and the value compounds across the whole family.”
A Growing Platform With Real Traction
The launch comes as Modak surpasses 200,000 accounts, reflecting strong demand from families looking for better ways to teach and manage money together.
Building a More Connected Family Financial Experience
Modak continues to expand how families manage money together, including shared groups and bill-splitting tools powered by its in-app assistant.
Availability
MoGold is available now for $5.99 per month and can be activated directly within the Modak app. The parent debit card is rolling out to eligible users nationwide.
MoGold benefits are subject to terms, conditions, and eligibility requirements. For full details, visit https://www.modakmakers.com/legal/terms.
About Modak
Modak is a family-focused financial platform helping parents raise financially confident kids. Through debit cards, allowance tools, savings features, and rewards, Modak turns everyday money moments into meaningful learning experiences.
Deposit account and the Modak Visa® debit card are issued by Legend Bank, N.A., Member FDIC. Modak is a financial technology company, not an FDIC-insured financial institution.
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Julie Valencia
Modak
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