Malar Group Announces Strategic Investment In Spendsafe To Transform Financial Literacy For The Next Generation

TORONTO--(BUSINESS WIRE)--Malar Group, under the leadership of CEO Sayan Navaratnam, has made a strategic investment in Spendsafe, the pioneering fintech platform that is redefining how families teach children about money. This investment reinforces Malar Group’s commitment to backing mission-driven companies that drive social impact through transformative technology.

Spendsafe is Canada’s first and only Mastercard-backed financial literacy platform built specifically for youth, combining a secure reloadable card, AI-powered coaching, and dynamic parent-child financial tools. Designed for children and teens aged 6 to 18, Spendsafe turns everyday spending into real-world learning experiences, helping raise financially confident young adults.

“At Malar Group, we believe financial literacy is one of the most important skills a child can learn,” said Sayan Navaratnam, CEO of Malar Group. “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.”

Led by founder and CEO Vasanth Ratna, Spendsafe launched nationwide in August 2025 and has quickly emerged as a trusted platform among Canadian families. The company recently announced a landmark partnership with Mastercard Inc., Berkeley Payments, and Peoples Group, enabling them to deliver a full-stack financial education solution backed by secure payment infrastructure and real-time coaching.

“Malar Group’s investment is a pivotal milestone in our journey,” said Vasanth Ratna, Founder and CEO of Spendsafe. “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.”

Why Malar Group Invests in Youth Financial Literacy

This investment aligns with Sayan Navaratnam’s broader vision of supporting innovative solutions that create long-term, intergenerational value. Under his leadership, Malar Group has built a diverse portfolio of investments across AI, digital infrastructure, education, and now fintech, with a common thread of advancing technologies that solve real-world problems. Spendsafe fits this thesis by converting everyday transactions into measurable learning outcomes and long-term financial health.

“The most impactful innovations are those that improve how we live, learn, and lead,” said Navaratnam. “Spendsafe represents a generational opportunity to build healthier relationships with money - starting at home, with the next generation.”

The financial literacy gap among youth is growing, with studies showing that 75% of teens wish they had been taught money skills earlier, and only 38% of Gen Z score proficiently in financial education assessments. Spendsafe addresses this head-on, offering a secure, engaging, and adaptive learning environment for kids, backed by real-world usage and behavioural coaching.

With Malar’s support, Spendsafe is now positioned to expand rapidly across North America and develop new tools that meet the evolving needs of modern families.

Financial terms of the investment were not disclosed.

About Malar Group

Malar Group, led by CEO Sayan Navaratnam, is a global investment firm dedicated to identifying and supporting transformative technologies with exceptional growth potential. With a focus on operational scale and long-term societal impact, Malar Group backs visionary founders shaping the future of industries and communities.

For more information, visit www.malargroup.com.

About Spendsafe

Spendsafe is Canada’s first Mastercard-backed financial literacy platform built for youth. Designed for children and teens aged 6 to 18, Spendsafe combines a secure prepaid card, dynamic parent controls, and an AI-powered coach to teach real-world money skills in a safe, structured environment.

Learn more at www.spendsafe.com.