PrizePool: Raises $10M in Series A Funding

PrizePool Raises $10M in Series A Funding

• PrizePool, a San Francisco, CA-based prize-linked savings startup, raised $10m in Series A funding
• The round was led by M13 with participation from Accomplice, Bling Capital, World Innovation Labs, and Coatue
• The company intends to use the funds to expand its team by 150% and launch debit cards
• The company gives customers a new place to save — one where their money is their chance to win real, cash prizes guaranteed to total $50,000 every month
• Even if savers don’t win cash prizes, the account is FDIC-insured and will earn a 0.30% interest rate
• The platform is available nationwide and can be downloaded for free on iOS and Android