See other companies on Welcome to the Jungle
Moneyworld
Gamified savings app
- 1-20 employees
- Fintech
- B2C
- Banking
- Gaming
- Mobile
- Civic Center, New York, NY
Jump to section
Company mission
Moneyworld's mission is to help make saving money fun.
Our take
Gamified mobile apps that help people form positive habits have taken off in recent years, yet financial health has been generally neglected by this trend. Meanwhile, open banking has led to a wide range of fintech mobile applications for banking and financial saving. But these take a similarly formal approach to traditional banking, resulting in many users feeling intimidated.
Moneyworld targets this market gap with a gamified, savings-focussed banking app - allowing users to open a bank account and save money through the exploration of the app's features. These features include daily coins, milestone prizes, and daily rewards, ultimately providing an incentive for users to engage with the app regularly and in doing so boost their financial health.
Whilst mobile banking apps such as Monzo and Revolut provide a variety of ways for users to earn interest on their savings, Moneyworld's gamified incentives remain unique in the space. Through this approach, the company shows great promise to encourage daily app use, boosting engagement for its fintech partners whilst helping users to earn money from their savings.
Kirsty
Company Specialist at Welcome to the Jungle
Company values
- We fight convention - Conventional models in financial services have left tens of millions of Americans behind (a 2017 FDIC survey showed 25% of US households are underbanked or unbanked) and new approaches are required. We challenge ourselves to think outside the box and strive to be surprising, welcoming, and refreshing
- We are inclusive - We believe the financial system today is not inclusive. We challenge ourselves to think how to talk to people from all walks of life, especially those underserved by today’s financial system. This priority towards inclusivity begins with the team we recruit and continues in the brand we build and products we release
- We put the client’s interests first - Too many banks cross-sell products to clients in the name of growth. This has led to a financial system riddled with conflicts of interest. We strive to make every product and feature decision with the guiding light of: “Will this ultimately help the client improve their financial foundation?” If the answer is no, we scrap the feature
- Humor and nostalgia are core parts of our offering - The complexity of the financial system creates walls that keep people out. By giving our clients small moments of delight and joy (and hopefully some laughs), we believe we can bring more people in, and bring down the bewilderment that stops people beginning on their financial journey
- Bring your opinions and passions - We are trying something different in a financial system that has been the same for decades. No idea is too crazy to consider. Here, we welcome creative thought that defies norms and expectations. And we have the team that is brave enough to put these out into the world
Funding (1 round)
Aug 2021
$2m
SEED
Total funding: $2m
Leadership
Greg Smith
(CEO)Experience as President of blooom from 2015 to 2017. Head of Business Development and Partnerships for Wealthsimple from 2017 to 2020.