Layup
About Layup
Layup is a mobile banking platform that integrates prize-linked savings accounts with automated sports picks, enabling users to earn cash prizes while saving money without any risk of loss. This approach provides a risk-free alternative for sports fans to engage in competitive play, enhancing their savings experience while participating in gaming activities.
<problem> Engaging with sports often involves financial risk through betting, while traditional savings accounts lack excitement and incentives for sports fans. Many fans seek ways to participate in sports outcomes without the potential for monetary loss. </problem> <solution> Layup is a neobank platform that combines prize-linked savings accounts with automated sports picks, offering a risk-free way for fans to engage with their favorite sports. Users deposit funds into an FDIC-insured savings account and receive daily sports picks. If their picks are correct, they win cash prizes, effectively turning savings into opportunities for winning. This approach allows users to enjoy the thrill of sports engagement without the risk of losing their deposited funds, as savings remain accessible and insured. Layup aims to provide a responsible alternative to sports betting, encouraging positive savings habits while offering the excitement of potential winnings tied to sports outcomes. </solution> <features> - FDIC-insured savings accounts held at nbkc bank - Daily automated sports picks provided to users - Cash prizes awarded for correct sports picks - No-loss savings model, ensuring deposited funds are always accessible - Gamified savings experience tied to sports outcomes - Mobile app available on iOS and Android platforms </features> <target_audience> Layup targets sports fans who are looking for a risk-free way to engage with sports and build savings habits, particularly those seeking an alternative to traditional sports betting. </target_audience> <revenue_model> Layup generates revenue through a margin on savings account interest and interchange fees from card transactions. </revenue_model>
What does Layup do?
Layup is a mobile banking platform that integrates prize-linked savings accounts with automated sports picks, enabling users to earn cash prizes while saving money without any risk of loss. This approach provides a risk-free alternative for sports fans to engage in competitive play, enhancing their savings experience while participating in gaming activities.
Where is Layup located?
Layup is based in City of New York, United States.
When was Layup founded?
Layup was founded in 2022.
How much funding has Layup raised?
Layup has raised 2330000.
- Location
- City of New York, United States
- Founded
- 2022
- Funding
- 2330000
- Employees
- 8 employees