Quarters is a financial platform that connects users' bank accounts to facilitate automatic savings for homeownership through everyday spending, allowing users to earn points that can be redeemed for rent, mortgage payments, and down payments. By transforming routine transactions into meaningful savings, Quarters addresses the challenge of accumulating funds for home purchases in a streamlined and accessible manner.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals struggle to save effectively for significant expenses like homeownership due to everyday spending habits and a lack of accessible savings tools. Traditional savings methods often require active management and may not seamlessly integrate with daily financial activities.
Solution
Quarters is a financial platform designed to automate savings for homeownership by linking to users' existing bank accounts and rewarding everyday spending. Users earn points on routine transactions, which can then be redeemed for rent, mortgage payments, and down payments. The platform provides a streamlined approach to accumulating funds for home purchases by transforming daily spending into meaningful savings. Quarters also offers personalized financial insights to help users optimize their savings strategies and provides options for credit building through on-time rent payments.
Target Audience
Quarters primarily targets individuals, especially renters and prospective homebuyers, who seek an automated and integrated solution for saving towards homeownership.
Features
- Connects to existing bank accounts and credit cards to track spending.
- Automatically awards points for everyday purchases.
- Points can be redeemed for rent, mortgage payments, and down payments.
- Offers personalized financial insights to optimize savings.
- Provides an option to build credit history with on-time rent payments.
- Referral program that offers cash back on real estate transactions.
- Lottery system where users can win free rent/mortgage payments.