About PrizePool
PrizePool is a company based in Menlo Park (United States) founded in 2019 by Joseph Woo.. PrizePool has raised $18.62 million across 2 funding rounds from investors including M13 Company, Accomplice and Bling Capital. The company has 2 employees as of December 31, 2024. PrizePool offers products and services including PrizePool Banking App. PrizePool operates in a competitive market with competitors including Chime, Stash, Dave, Albert and Umba, among others.
- Headquarter Menlo Park, United States
- Employees 2 as on 31 Dec, 2024
- Founders Joseph Woo
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$18.62 M (USD)
in 2 rounds
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Latest Funding Round
$14.32 M (USD), Series A
Apr 26, 2021
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Investors
M13 Company
& 5 more
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Employee Count
2
as on Dec 31, 2024
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Products & Services of PrizePool
PrizePool offers a comprehensive portfolio of products and services, including PrizePool Banking App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for banking services with integrated cash prize rewards.
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Software Development Team
3 people
Leadership Team
1 people
CTO Team
1 people
Legal and Compliance
1 people
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Funding Insights of PrizePool
PrizePool has successfully raised a total of $18.62M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $14.32 million completed in April 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $14.3M
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First Round
First Round
(27 Aug 2020)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2021 | Amount | Series A - PrizePool | Valuation | M13 Company | |
| Aug, 2020 | Amount | Seed - PrizePool | Valuation | Accomplice , Bling Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PrizePool
PrizePool has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include M13 Company, Accomplice and Bling Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Multiple sectors are invested in by M13 venture capital fund.
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Founded Year | Domain | Location | |
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Accomplice is engaged in venture capital investments for startups.
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Founded Year | Domain | Location | |
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Seed funding and product council are provided for early-stage companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PrizePool
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - PrizePool
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Prizepool Comparisons
Competitors of PrizePool
PrizePool operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Chime, Stash, Dave, Albert and Umba, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital banking services are offered to individuals via mobile apps.
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| domain | founded_year | HQ Location |
Automated investment and robo-advisory services are offered to individuals.
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| domain | founded_year | HQ Location |
Digital banking services are provided for easier financial management.
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| domain | founded_year | HQ Location |
Digital banking app is offered for savings, investing, and budgeting.
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| domain | founded_year | HQ Location |
Digital banking solutions are offered to individuals through mobile apps.
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| domain | founded_year | HQ Location |
Digital banking services for consumers are offered via mobile app.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Prizepool
Frequently Asked Questions about PrizePool
When was PrizePool founded?
PrizePool was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is PrizePool located?
PrizePool is headquartered in Menlo Park, United States. It is registered at Menlo Park, California, United States.
Is PrizePool a funded company?
PrizePool is a funded company, having raised a total of $18.62M across 2 funding rounds to date. The company's 1st funding round was a Seed of $4.3M, raised on Aug 27, 2020.
How many employees does PrizePool have?
As of Dec 31, 2024, the latest employee count at PrizePool is 2.
What does PrizePool do?
PrizePool was founded in 2019 in Menlo Park, United States, as a digital bank serving individuals. Operations focus on fintech solutions, with savings accounts, prepaid cards for online and offline use, bill payments, and money transfers included among the services. Interest is applied to deposits, while periodic rewards, bonuses, and referral earnings are offered. The platform operates via the domain getprizepool.com.
Who are the top competitors of PrizePool?
What products or services does PrizePool offer?
PrizePool offers PrizePool Banking App.
Who are PrizePool's investors?
PrizePool has 6 investors. Key investors include M13 Company, Accomplice, Bling Capital, Coatue, and World Innovation Lab.
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