PrizePool is a fintech startup with a mission to incentivize Americans to build a better financial foundation.
PrizePool ups the game of today’s boring, low-growth, savings accounts.
PrizePool was founded in 2019 by Frank Chien and Joe Woo. The company is headquartered in San Mateo, California.
PrizePool gives customers a way to save and win real cash prizes guaranteed to total $50,000 every month. PrizePool pays out a $25,000 Grand Prize each month, along with thousands of smaller prizes. All deposits are FDIC insured, by Evolve Bank & Trust, and there are no fees and no minimums to participate.
PrizePool has raised $4.25M in a Seed funding round on Aug 27, 2020. Backers included Accomplice, Bling Capital, Coatue, SciFi VC, and World Innovation Lab, among others.