San Francisco startup SaveUp has raised $2 million in early-stage funding from BlueRun Ventures and True Ventures.
The company has developed a rewards program for personal savings, but has yet to launch its service in public beta (you can sign up for an invite).
In a press release, SaveUp says it intends to rewards Americans for saving money and paying down their debts rather than focus on driving consumer spending like traditional rewards programs.
The startup aims to incorporate rewards and game experiences into every-day financial activities and partner with major consumer brands.
BlueRun’s Jonathan Ebinger joins SaveUp’s board of directors, with True Ventures’ Christiaan Vorkink joining as a board observer.
SaveUp was founded by CEO Priya Haji, who also cofounded World of Good (acquired by eBay last year) and CTO Sammy Shreibati, who was previously at PrepMe.
SaveUp rewards people who log on to the website to track and manage their spending to save money. Unlike most loyalty programs that give credit based on how much one spends, SaveUp rewards you for how much you save. (VentureBeat)
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