Lootlock is launching a new parental control solution designed to curb impulsive gaming spending by providing kids with a digital, prepaid credit card issued by partner Transcard, which integrates directly into their device’s digital wallet. The startup is set to showcase its platform at TechCrunch Disrupt 2025.
The platform allows parents to automate weekly or monthly allowances on the card while retaining the ability to restrict immediate access to portions of those funds. Children can unlock additional spending power by completing specific tasks, with parents maintaining control through real-time text message approvals for any increases.
Granular Spending Oversight
“We’re giving the parents super granular controls on how their kids can spend and when their kids can spend,” said the company’s representative, Pompa.
To further incentivize positive behavior, Lootlock is introducing “bounty boards” this October. This feature allows parents to list specific chores—such as cleaning a room or caring for pets—that children must complete to earn rewards. Once a child hits a parent-defined threshold of bounties, the app automatically releases additional funds.
Gamifying Financial Literacy
Lootlock integrates financial education directly into the gaming experience. Children select an avatar and earn digital rewards, such as swords or armor, by practicing responsible habits like monitoring their account balances via the app dashboard. These avatars remain persistent across platforms where Lootlock is integrated, including Discord servers.
“We’re tying all of the financial concepts into a video game concept,” Pompa added.
Restricted Spending Environment
A key safety feature of the service is that Lootlock balances are restricted exclusively to gaming-related products, preventing children from using the card for general internet purchases. This design choice removes the need for parents to constantly monitor individual transaction types, allowing them to focus on teaching responsible gaming habits.
Lootlock currently operates with a team of seven and remains fully bootstrapped as it prepares for its presentation at the upcoming industry event.
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