Investii Inc., a company whose behavioral finance platform encourages consumers to save money, will receive a $100,000 investment through nationally ranked startup accelerator gener8tor’s 2022 Madison program, according to a Monday press release.
Wisconsin-based gener8tor Management LLC has served more than 800 startups across all of its programs since its founding in 2012, including Milwaukee-based Fiveable and Bright Cellars.
Milwaukee-based Investii is one of six startups selected for gener8tor’s 2022 Madison program. The startups each receive a $100,000 investment and will work with gener8tor’s team for 12 weeks this summer to secure customers, gain mentorship and accelerate their revenue growth, according to the press release.
The startups will also use the final three weeks of the program to pitch outside investors with the hopes of leveraging gener8tor’s investment into a larger round of funding.
Investii’s app creates a central location for users to move money between checking, savings, investment and retirement accounts and uses AI to calculate how much money users should allocate to each of these accounts.
Molly Dill, managing director of the gener8tor 2022 Madison program, said gener8tor was already familiar with Investii through the company’s participation in gener8tor’s gBETA Milwaukee program, which Dill was also a director for.
“They had shown really great progress since they were in the gBETA Milwaukee program on building a good base of users and getting that app ready for deployment on the app store,” Dill said. “We’re excited about Investii’s mission to change the way people look at financial wellness from a credit score, which is about the debt that you hold, to a saving score.”
When users move money to savings or investment accounts, the app provides cash-back rewards to them and increases their Investii Savings Score, a metric the company hopes to eventually monetize through user-authorized sales to lenders or by directly offering loans to good savers.
Founded in 2020, Investii has more than 200 users and already signed referral partnerships with fintech companies Chime and Acorns, according to the press release.
