Available in | English |
---|---|
Dissolved | November 29, 2017 |
Headquarters | Lake Forest, Illinois |
Area served | United States |
Founder(s) | Priya Haji Sammy Shreibati |
Launched | November 2011 |
Current status | Defunct |
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]
Robert D. Manning is a bankrupted former financial advisor in consumer credit and financial services. Up until 2008, Manning was a professor of finance at Rochester Institute of Technology's E. Philip Saunders College of Business.
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