FinovateFall 2019 / Wallit
Presenter Profile:
How they describe themselves: Wallit is transforming the banking experience by making it easy for consumers to manage money and earn cash rewards for their everyday saving and spending through a single app. The company partners with leading banks and credit unions to offer moment-based rewards, such as completing savings goals or items on a to-do list. Headquartered in Portland, Maine with offices in Boston, Wallit is backed by Boston-based VC firms and angel investors with participation from Maine Technology Institute.
How they describe their product/innovation: As a mobile marketing platform for banks and credit unions, Wallit enables them to offer families with teens a free savings and rewards app that allows consumers to discover products, interact with brands and earn real cash rewards for saving and spending. The first platform of its kind, Wallit is transforming the way banks and brand marketers engage with consumers. Unlike other apps, Wallit gives consumers exactly what they want – real cash rewards for real achievement, instead of credits or points.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
Contacts
Bus. Dev.: Mike Vien, CEO & Co-Founder, mike@wallit.app, 617-224-6168
Press: Brooks Wallace, Hollywood Agency, brooks@hollywoodagency.com, 617-688-7200
Website: wallit.app
LinkedIn: linkedin.com/company/mywallit
Twitter: @Wallit_app
HQ: Portland, ME
Founded: January 2016 as Ourly.Help, Inc. and reincorporated as Wallit Inc. February 2019
Product Demoed: Wallit
Metrics: Total equity financing raised to date: $6.26M, 6 Full-Time employees, 6 full-time contractors, $100,000 ARR with 8 clients, Over 16,000 Monthly Active Users
Presenters: Mike Vien (CEO & Co-Founder), Nick Petros
- Key Executives
Michael Vien (CEO & Co-Founder), Ani Malkani (VP Product), Allii Ray (VP Operations & Co-Founder), Chris Williams (CTO & Co-Founder)
Key Stats
- Key Board Members
Ken Ray (Board Chairman), Dave Furneaux (CEO & Chairman, BlueIO), Hank Boughner (President, Global Solutions for Global Payments), Michael Vien (CEO & Co-Founder, Wallit Inc.)
- Key Investors
Ken Ray (Board Chairman), Dave Furneaux (CEO & Chairman, BlueIO), Adrian and Senofer Mendoza (General Partners, Mendoza Ventures), Josh Felker (General Partner, BoxOne Ventures)
- Key Advisory Board Members
Jan Haas (BlueIO, Velocity Financial Group, NXT Capital), Walt Doyle (fmr. CEO, where.com (acquired by PayPal) & Co-Founder, confirm.io (acquired by Facebook)), Michael Putziger (Chairman, WinnCompanies)
- Key Partnerships
Radius Bank, Northern Bank & Trust, Alloy, TreasuryPrime, Qrails, Plaid, Dwolla
- Key Customers
Radius Bank, Northern Bank & Trust