SaveUp offers a rewards-driven program that gamifies user savings and paying down debt to make personal finance tracking more engaging. The company launched its rewards program last year and focuses on helping users dig out of debt and boost savings rather than only visualizing finances. SaveUp reports strong engagement: 20% of its user base is active daily, 45% weekly, and 68% at least monthly. Users have more than half a billion dollars in debt registered on the platform, including $317M in mortgage debt, $45M in credit card debt, and $148M in loan debt; the product has helped users pay down $74M in debt and increase savings by $93M. SaveUp currently has seven employees and is based in San Francisco. With new funding, the company plans to increase distribution and expand onto new platforms, with mobile a key target. SaveUp is developing a rewards program that incentivizes personal savings and paying down debt. The company remains in stealth and has not launched a public beta; interested users can sign up for an invite. SaveUp intends to reward Americans for saving money and reducing debts rather than driving consumer spending like traditional rewards programs. The startup plans to incorporate rewards and game experiences into everyday financial activities and to partner with major consumer brands. Financially, SaveUp recently raised $2 million in early-stage funding from BlueRun Ventures and True Ventures. Leadership includes CEO Priya Haji (cofounder of World of Good, acquired by eBay) and CTO Sammy Shreibati (previously at PrepMe); BlueRun’s Jonathan Ebinger joined the board and True Ventures’ Christiaan Vorkink joined as a board observer.

Total raised

$6M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2012