Saveup Explained

SaveUp
Founder:Priya Haji
Sammy Shreibati
Area Served:United States
Location:Lake Forest, Illinois
Language:English
Current Status:Defunct
Url:www.saveup.com

SaveUp was a free financial management site and iOS app[1] that used prizes to incentivize Americans to save money and pay down debt.[2] The company was founded in 2011 by Priya Haji and Sammy Shreibati.[3] Haji died of a brain aneurysm soon after[4] and Paul Burt purchased the app in 2015.[5] It has partnered with the thinktank Filene Research Institute.[6] SaveUp raised $7 million in funding from BlueRun Ventures and True Ventures.[7]

SaveUp monitored account balances in order to issue credits. Credits, similar to reward points, were awarded every time a user saves money or reduces debt, and can be used for the chance at cash and prizes.[8] [9] [10] It was listed as one of 2011's Top 100 websites by PCMag.[11]

SaveUp Inc. filed for bankruptcy in the United States District Court for the Northern District of Illinois on November 29, 2017 and shut down.[12]

Notes and References

  1. Web site: SaveUp - Personal finance tracking with rewards on the App Store on iTunes . itunes.apple.com . dead . https://web.archive.org/web/20140519235615/https://itunes.apple.com/app/saveup-win-rewards-for-saving/id669930320?mt=8 . 2014-05-19.
  2. News: SaveUp Tips Personal Finance On Its Head . Forbes . Peter . Cohan.
  3. News: Chima. Chikodi. SaveUp makes paying your debts addictive and fun. 9 February 2012.
  4. Web site: Taylor. Colleen. Tech Entrepreneur Priya Haji, Founder And CEO Of SaveUp, Has Passed Away At 44. TechCrunch. 11 July 2018. 16 July 2014.
  5. Web site: Chang . Jessica . 'You Can Be the Smartest Here, But You May Not Be the Smartest There' . The Stentor. 11 July 2018. 1 April 2015.
  6. Web site: Filene Partners with New Savings Rewards Program.
  7. Web site: Financial Rewards Startup SaveUp Raises $5 Million to Gamify Your Finances.
  8. Web site: SaveUp makes paying your debts addictive and fun. November 2011.
  9. News: A Start-Up Rewards Savers, Not Spenders . The New York Times . 31 January 2012.
  10. Web site: SaveUp Encourages You to Save Money and Pay Down Debt with Chances for Big Prizes.
  11. Web site: Griffith . Eric . The Top 100 Websites of 2011 . PCMag . December 19, 2011 . https://web.archive.org/web/20120119003710/https://www.pcmag.com/article2/0,2817,2397686,00.asp . January 19, 2012 . dead .
  12. Web site: SaveUp Inc. Bankruptcy (1:17-bk-35506), Illinois Northern.

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