The TECHdotMN team would like to introduce you to each of the startups featured in the upcoming BETA showcase. Over the next couple of weeks, we will highlight each company, so you can get a better idea of the talent, hardwork, and dedication held within each of these startups.
The next company in our BETA Startup Showcase series is: Spave
Spave® (Live. Give. Save) is the first all-in-one mobile app that allows users to easily track spending, set goals, save for their dreams, and donate to causes they care about without changing the way they live.
Tell us the story of how and why you started your company.
In 1995, I travelled to Africa where I was introduced to micro-finance and the power of micro-payments. I met women micro-entrepreneurs living in abject poverty who were repaying their micro loans at a 99% repayment rate. At the time, I was marketing the nation’s largest credit card portfolio and we were not seeing those types of repayments. Instead, we saw a surge in spending and dearth in savings. That’s when it dawned on me: There has got to be a way to apply the principle of micro-payments to help people better save for themselves and help others without changing the way they live. Moreover, I saw the potential to create something that could transform the way people engage with their finances – something that was good for everyone.
What’s your most recent success or milestone hit?
Three nonprofits have signed on to promote Spave this Fall.
Where do you see your startup in 1 year?
A year from now, we will have three financial institutions using our technology, 100 nonprofits promoting Spave to their donors and 100,000 people spaving for themselves and others generating $700,000 in revenue.
For more information, please visit: Spave