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Technology

Upside Saving

Status: Funded

Sep 1st 2020 - Oct 21st 2020

Upside is a financial technology entity that allows its users to earn cashbacks on current purchases so that they can save on their next purchase. The app uses an open-banking-marketing-platform that enables customers to automatically start saving by harvesting upside from their everyday spending and allows retailers to sell more inventory. Upside claims that 11.5 million people in the UK have less than £100 in savings. It aims to solve this problem and become a contender in the cashback segment. Since its incorporation in January 2020, Upside has raised £540,000+ from founders and SEIS Angel Investors. It has also signed-up 700+ consumers as private alpha testers to smoothen the app. The company will use the investment to onboard more retail partners, build out a self-serve retailer platform, build out Upside-as-a-Service Application Programming Interface (API) gateway, and prepare for Seed funding in Q1 of 2021.

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Upside Saving Rating Review

Rated on 08/09/2020

Pitch Rated

79%

overall

Management

90%

Product

76%

Investment

71%

Pitch rating powered by CROWDRATING

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating
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Management 90%

Skills 91%
The CEO is a chartered accountant and an entrepreneurial leader with a track record of success leading financial services organisations, start-ups, scale-ups and large corporates to drive growth. He has expertise in Fintech, Insurance, Business Strategy, Product Strategy, Product Development, M&A Integration, Digitally-Enabled Innovation, Digital Technologies, and Mobile Apps. The CTO has software engineering, architecture and integration background with a strong focus on modern engineering, cloud and DevOps. The Head of Growth is an experienced sales professional with a track record in building and leading sales organisations to drive growth. She is an internet marketing expert who specialises in helping and developing companies, implement, and optimise their sales and online marketing strategies. The COO is an entrepreneurial and financial services business leader, a fellow of the British Computer Society and FCA approved technologist. He brings a successful track record of business and technology operations and digital transformation producing results on a global scale. It was noted that the CEO is also taking up the responsibilities of the Finance Head in the company.

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  • £351,047
    pledged
  • 117%
    of goal

    £300,000
    target

    £4,351,163
    pre-money valuation

    6.45%
    equity available

    343
    investors

    £1,023
    pledge per investor

    12393337
    company number

    Active
    company status

    09/01/2020
    incorporated 10 months

    Equity Calculator
    Investment
    £
    Equity
    %
    Previous Funding rounds
    01 Sep 20 Seedrs £351,047 / 117% 79.00%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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