Lootlock, the revolutionary new app that prevents unexpected gaming charges. It provides parents with peace of mind, while still allowing their kids to play and explore the games they love. Lootlock was created by Nick Pompa, an avid gamer and fintech software developer. As they note, the company offers a real solution for families grappling with the rising costs of in-game purchases. That’s exactly what the startup will be doing at TechCrunch Disrupt 2025, taking place October 27–29 in San Francisco.
The app allows parents to load a digital prepaid credit card issued by Lootlock’s partner, Transcard, directly into their children‘s devices. Parents can pre-define an allowance for this card, on either a weekly or monthly basis. This helps them best control their children’s video game spending. Lootlock provides amazing controls for parents. Yet they are no more effective than provisions where they can readily lock access to sections of their child’s allowance, forbidding overspending on gambling items without pre-approval first.
Pompa got the idea for creating Lootlock while discussing security concerns with his friend Joe. Joe, a father of three video game loving kids, ignited Pompa’s imagination. Joe shared about his challenges in keeping his kids’ gaming wallets under control. He admitted that they often spent their limited monthly budgets immediately on random in-game purchases. Given this experience, Pompa was inspired to develop a powerful tool for parents. Further, it allows young people to experience the joy of gaming.
“The gaming industry uses clever design, social engineering, and player tracking to encourage kids to spend more money while playing,” said Pompa. He made the case for protective measures in an industry that’s become heavily dependent on micro-transactions.
Six years old was the age at which Pompa first started playing video games. Now, as a father of two young girls, he looks forward to passing on his appreciation for gaming to them as they grow up. He understands that it’s critical to give students a controlled environment that encourages smart spending decisions. “We’re giving the parents super granular controls on how their kids can spend and when their kids can spend,” he explained.
Lootlock’s core functionalities are super cool, but they’re about to get even cooler! In October, they’ll be rolling out a new feature that should add to this buzz – “bounty boards.” This feature gamifies boring chores to make them fun and engaging while allowing kids to unlock their allowance by doing chores. Pompa relates economic principles to a video game environment. Between engaging missions and silly humor, this method gets users playing fun games and exercising important money management skills at the same time.
With a team of seven dedicated employees, Lootlock operates on a fully bootstrapped model, focusing on creating a product that resonates with both parents and children. The startup dazzles in an impressive field. It addresses one of the biggest concerns for families — how to control gaming costs while preserving the enjoyment of gaming.
I’m an enthusiastic gamer, and I’ve seen, unfortunately, the industry make a complete turn to micro-transactions these past eight to nine years, Pompa said. At the same time, Mr. Litterst recognized the increasing pressures that accompany this phenomenon. His passion to deliver a solution is indicative of his passion and knowledge about gaming and financial management.
Lootlock is preparing for its upcoming debut at TechCrunch Disrupt 2025. Pompa couldn’t be more excited to unveil his vision to the global stage! Overall, Burstein just wants the app to be a useful tool for parents. It will empower them to effectively manage the confusing and costly world of today’s gaming landscape while instilling healthy spending patterns in their children.
