ImpulseSave links a user’s checking account to a dedicated savings account (backed by FDIC-insured Leader Bank, NA) and lets users set weekly savings targets for discrete goals. Users can also "impulse save" by sending money immediately via phone/text (examples given: $10, $20, $100). The company partners with brands (JetBlue, Trader Joe’s, Fidelity) to offer perks and earns revenue via commissions for new accounts, affiliate/lead-generation fees on goal-related products, and a 5% commission on donations through an "ImpulseDonate" feature tied to four charities. The three-person startup was co-founded by Phil Fremont-Smith (formerly of AnswerSmart) and launched at TechCrunch Disrupt; its beta is in market. Operating metrics reported in the article include users saving about twice a week and typically putting away $15 each time, an NPS around 39%, a roughly 1% attrition/retention figure, and over a 50% email open rate. Financially, the company has raised $200,000 so far.

Total raised

$0M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2012