EverUp Company Profile

Background

Overview

EverUp is a UK-based financial technology company specializing in prize-linked savings and rewards. Founded in 2020 by Giuseppe Caltabiano and Egi Messito, the company aims to make saving money engaging and rewarding through gamified experiences. Operating under the legal name Everup Ltd, the company is registered in London, Greater London.

Mission and Vision

EverUp's mission is to transform the traditional savings model by integrating gamification, thereby encouraging individuals to save more effectively. The company's vision is to become a leading platform in the rewards economy, offering innovative financial products that combine savings with entertainment.

Industry Significance

As a pioneer in the prize-linked savings sector, EverUp addresses the challenge of low savings rates by providing an interactive and rewarding alternative to conventional banking methods. This approach aligns with the growing trend of integrating gamification into financial services to enhance user engagement and financial literacy.

Key Strategic Focus

Core Objectives

• Gamified Savings: Develop and offer financial products that make saving money an engaging and rewarding experience.

• User Engagement: Build a robust user base by providing interactive features that encourage regular saving habits.

• Financial Inclusion: Offer accessible financial products that cater to a wide demographic, promoting better financial habits across various income groups.

Areas of Specialization

• Prize-Linked Savings Accounts: Accounts that allow users to earn chances to win tax-free cash prizes based on their savings.

• Gamified Financial Products: Integration of gaming elements into financial services to enhance user engagement and retention.

Key Technologies Utilized

• Modulr FS Limited Integration: Utilizes Modulr's payment services to provide secure and efficient transaction processing.

• Mobile Application Development: Develops user-friendly mobile applications for iOS and Android platforms to facilitate easy access to services.

Primary Markets Targeted

• United Kingdom: Focuses on the UK market, aiming to become a leader in the prize-linked savings sector.

• European Expansion: Plans to expand services across Europe, leveraging the growing interest in innovative financial products.

Financials and Funding

Funding History

• Crowdfunding Campaign: In February 2022, EverUp successfully raised £429,668 through a crowdfunding campaign on Crowdcube, surpassing its £400,000 target.

Total Funds Raised

• Equity Crowdfunding: The company has raised a total of £429,668 through equity crowdfunding.

Notable Investors

• Crowdcube Investors: The funding round attracted 310 investors, indicating strong community support and interest in EverUp's innovative approach.

Utilization of Capital

• Product Development: The funds are intended to support the development of new products and features, including the launch of a gamified crypto rewards debit card.

• Market Expansion: Capital will be used to expand marketing efforts and grow the user base within the UK and across Europe.

Pipeline Development

Key Pipeline Candidates

• Prize-Linked Gift Cards: Launched with £10,000 in sales within two weeks, these gift cards offer users chances to win tax-free prizes.

• Crypto Rewards Debit Card: A gamified debit card that integrates cryptocurrency rewards, with a waitlist of over 4,000 subscribers.

Stages of Development

• Prize-Linked Gift Cards: Successfully launched and generating sales.

• Crypto Rewards Debit Card: In development, with plans for a future rollout.

Target Conditions

• Financial Literacy: Aims to improve financial literacy by making saving and investing more accessible and engaging.

• User Engagement: Seeks to increase user engagement through gamified financial products.

Anticipated Milestones

• Product Launches: Introduction of the crypto rewards debit card and expansion of prize-linked products.

• User Growth: Achieving significant growth in registered users and active participants.

Technological Platform and Innovation

Proprietary Technologies

• Gamification Engine: Develops and integrates gaming elements into financial products to enhance user engagement.

• Secure Payment Integration: Utilizes Modulr's payment services for secure and efficient transaction processing.

Significant Scientific Methods

• Behavioral Analytics: Employs analytics to understand user behavior and tailor products to enhance engagement and savings habits.

• Mobile Application Development: Focuses on creating intuitive and user-friendly mobile applications for iOS and Android platforms.

Leadership Team

Giuseppe Caltabiano – Co-Founder and CEO

• Professional Background: Experienced entrepreneur with a background in financial technology and digital innovation.

• Key Contributions: Led the development and launch of EverUp's prize-linked savings platform and oversaw the successful crowdfunding campaign.

Egi Messito – Co-Founder and COO

• Professional Background: Background in operations and strategic management within the fintech sector.

• Key Contributions: Managed operational aspects of EverUp, ensuring efficient service delivery and user satisfaction.

Miguel Ortiz – Chairman

• Professional Background: C-Suite professional with extensive experience in financial services and corporate governance.

• Key Contributions: Provides strategic guidance and oversight to EverUp's leadership team.

William Nott – Advisor

• Professional Background: Experienced advisor in the fintech industry, specializing in product development and market expansion.

• Key Contributions: Offers expertise in scaling fintech products and entering new markets.

Competitor Profile

Market Insights and Dynamics

• Market Size and Growth Potential: The prize-linked savings market is growing, with increasing interest in gamified financial products.

• Industry Trends: A shift towards integrating gamification into financial services to enhance user engagement and financial literacy.

Competitor Analysis

• Tuck: Offers cashback through gift cards and has partnerships with various retailers.

• JamDoughnut: Provides cashback offers and has a focus on user engagement through gamified elements.

• Gains App: Offers personalized cashback and budgeting tools, positioning itself as a free alternative to EverUp.

Strategic Collaborations and Partnerships

• Modulr FS Limited: Partnership for secure payment processing.

• Retail Partnerships: Collaborations with over 140 brands to offer cashback and rewards to users.

Operational Insights

• Market Position: As a pioneer in the gamified savings sector, EverUp differentiates itself through its unique integration of gaming elements into financial products.

• Competitive Advantages: Strong user engagement metrics, innovative product offerings, and a growing user base.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Product Expansion: Introduction of new gamified financial products, including the crypto rewards debit card.

• Market Expansion: Growth within the UK market and exploration of opportunities in other European countries.

Future Business Directions

• Financial Education: Enhancing financial literacy through engaging and interactive products.

• User Growth: Increasing the user base through targeted marketing and referral programs.

Opportunities for Expansion

• International Markets: Assessing the potential for entering markets outside Europe.

• Product Diversification: Exploring additional financial products that align with the company's mission.

Contact Information

• Website: everup.uk

• Social Media:

• Facebook: EverUp Facebook

• Instagram: @everup.uk

• LinkedIn: EverUp LinkedIn