Looking around us, we noticed virtually all Americans were trying to rebuild savings and pay off debt. We know how lonely and frustrating personal finance can be. Maybe what people need is a little fun and motivation.
Our idea is not completely novel. It's called Prize-Linked Savings and is offered in lieu of interest by financial institutions in many countries. In most states, however, laws make it difficult for banks to provide these kinds of accounts.
Relying heavily on the work of the Doorways to Dreams Fund in Boston, we created SaveUp as a for-profit social enterprise. Registered as a sweepstakes, we are able to offer free opportunities to win very large prizes.
SaveUp was founded by Priya Haji and Sammy Shreibati.
Priya previously founded World of Good, a sustainable goods marketplace acquired by eBay in 2010. Before that, she co-founded Free at Last, a national model for substance abuse treatment and HIV/AIDS intervention.
Sammy was previously the director of engineering at PrepMe, which brings customized learning to students around the world.
In 2014, SaveUp Inc. was purchased by Paul J. Burt, entrepreneur, from Lake Forest, Illinois. With plans of expansion and growth, our winning team continues to help participants reach their financial goals.
Partnerships and sponsorships keep SaveUp free to consumers.
Banks and Credit Unions benefit from increased deposit activity and insight into their customers.
Human Resource Providers benefit from increased 401k enrollment and educational programs for employees.
Sponsors benefit by building a stronger community around their brand.Become a partner or sponsor.