All You Need to Know About EverUp: One of the UK’s Most Innovative FinTech Startups
Janaury 31, 2021 14:22 GMT
Technology News Team
All you need to know about EverUp: One of the UK’s most innovative FinTech startups
About & Leadership
EverUp is a prize-linked money account that encourages users to save through mobile gaming. It was founded in 2020 by Giuseppe Caltabiano and Egi Messito, in collaboration with C-Suite professionals, Miguel Ortiz, the chairman of EverUp, and William Nott, the advisor of the organization.
Why Choose EverUp?
EverUp is the first UK firm to create a prize-linked, tax-free platform to enable millions of people to save across the United Kingdom. Instead of relying on a bank, the EverUp savings account uses Modulr FS Limited under its EMI license.
Modulr is a non-bank payment service provider, directly connected to the Faster Payments Scheme in the UK. And with an account at the Bank of England, they can receive, hold and settle funds in the most secure way. Modulr’s API-driven platform enables EverUp’s users to get faster, real-time payment disbursements on savings and winnings. Customers can monitor credits and their savings progress.
Currently, in the UK, the NS& offers the popular “Premium Bonds”, which is also a prize-linked scheme. And so far, over 20 million people have been able to save £88 billion via this system. EverUp is using a similar idea for their savings platform.
The EverUp App
According to the company, many people struggle to keep money aside. So, they have successfully devised a means to encourage savings.
The EverUp app contains embedded lotteries from which users can win lots of money. But, unlike regular lotteries, no money is lost for losing games, and the EverUp app doesn’t provide interests or dividends for saving.
As customers save and perform other actions like signing up, inviting friends, leveling up, etc., they earn virtual coins. As a user saves more often and earns more coins, he/she can play games with the coins and potentially win prizes, tax-free. The account will never use the customer’s money to play games or to withdraw funds.
The EverUp Ltd is registered in England and Wales at Arquen Hous/e 4-6 Spicer Street, St. Albans, England, AL3 4PQ. With 256-bit encryption, bank-level security, and two-factor authentication, EverUp can keep money safe.
And as a startup firm, the EverUp team plans to raise money through equity crowdfunding. They aim to make savings fun and accessible to everyone, so it is of great purpose in all.
And by so doing, the members of the EverUp community can contribute to the success of the company itself.
COMPANY: EverUp Ltd