/start ups

News and resources on fintech start-ups, scale-ups, hubs, accelerators, VCs and funding worldwide.
Everything raises €2m to reinvent Premium Bonds

Everything raises €2m to reinvent Premium Bonds

Everything, a UK fintech startup promising to "reinvent" Premium Bonds with a social twist, has raised €2 million from a group of angel investors.

Merama CEO Sujay Tyle, Frontier Car Group founders Peter Lindholm and Ricardo Donoso, and Axel Arigato co-founder Albin Johansson joined the round.

Everything, which is free to join and use, will be launching a debit Mastercard in the UK that will target Gen-Zs and young millennials, where users can win instant cash rewards every time they spend or save money.

The product is described as an evolution of the UK's most popular savings method, Premium Bonds, with a social twist. To increase the chance of winning, people can also invite their friends and family to their own "Squads" and have a chance to win every time they *tap* or save too.

The company pools together a part of its revenue and allocates it to different reward buckets ranging from £1 up to £1 million. When a reward threshold has been funded, the next user who makes a payment becomes the winner. They will be notified in real-time through the Everything app and their rewards are deposited straight into their account.

Michael Wilkinson, COO, Everything, says: "We want to reinvent Premium Bonds to make them more accessible for younger generations and inject the excitement of winning into everyday finances like spending and saving without the risk of losing."

Comments: (0)