UK’s first prize-linked personal finance app EverUp enters cryptos

EverUp, which claims to be the UK’s first prize-linked personal finance platform, has entered the crypto and non-fungible tokens (NFTs) markets.

The company is currently in the middle of a crowdfunding campaign on Crowdcube. This capital will help EverUp launch its crypto gamified rewards debit card.

Over 5,000 people are on the waiting list for the debit card, which will enable consumers to spend in fiat and have a chance to earn cryptocurrencies and NFTs for each purchase. Users will be able to store their loyalty rewards, rather than spend them.

With 30 days still left on the crowdfunding fundraise, the company has already reached its target of £400,000. It reached the target through commitments from 225 investors and in exchange for 3.85% of its equity.

EverUp, which raised the money at a pre-money valuation of £9.9m, will continue to raise funds in the campaign.

The company launched its services 12 months ago and since then it has attracted 14,000 registered users in the UK. Other milestones include raising £1m from angel investors and sold £16,000 worth of gift cards since December 2021.

EverUp CEO and co-founder, Giuseppe Caltabiano said, “The world of NFTs and cryptocurrency can be intimidating, complex and inaccessible for the average consumer.

“We are here to change that by developing a suite of prize-linked financial products that incentivise consumers to engage with their finances on a daily basis. It is only by making financial products fun and accessible that we have a fighting chance closing the wealth gap and creating a financially inclusive society.”

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