Two Vancouver entrepreneurs have launched a financial technology startup.
Ever.ca was cofounded by Jeremy Kuo and Brandon Wang. Kuo has a background in startups and investing, including a recent stint at Stonks, while Wang is a social media influencer with experience at Google, Dell, and more.
The duo have received early interest in their fledging firm: Techstars Toronto unveiled that it has invested in the startup.
According to the Government of Canada, 27% of Canadians borrow money to buy food or pay for daily expenses. This leaves a quarter of the country in a financially vulnerable position, the company says.
Ever provides a banking app that “allows you to save more, win more, and open up a world of rewards.”
Traditional saving is boring, even though it pays off long-term, according to Ever. To make it more exciting, the fintech offers regular prizes.
“With Ever, you get the chance to win big just by saving,” the startup says. “We pool together a portion of the interest from high value banks and offer it via prizes through weekly number draws—we also take a portion and pay it to you no matter what.”
Ever accounts are protected through bank-grade encryption technology and the startup is working toward CDIC insurance through a banking partner. The completely digital platform promises high interest and weekly prizes for account holders.
Ever’s zero-fee, no-minimum account is expected to launch in 2023.
Techstars Toronto has now made a total of nearly 80 startup investments. The only other regional investment, however, has been in Burnaby-born Fable.com.