Y
Yotta
Allows to save money and unlock the chance to win prizes
About Yotta
Yotta is a financial technology startup that operates in the banking sector, offering an innovative approach to personal finance management. It serves over 700,000 members who are looking for ways to boost their finances. Yotta is not a traditional bank, but it partners with FDIC-insured banks to hold customer funds securely.
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The company's primary offering is its I-Bonds Bucket, which provides an annual percentage yield (APY) of 6.89%. This is a type of savings account where the interest you earn is based on the amount you deposit. The higher the deposit, the more interest you earn.
Yotta also offers a unique feature called the Daily Drawing Sweepstakes. Customers can win cash prizes based on the numbers they match each day. The prizes range from $2,000 to a grand prize of $1 million. Regardless of whether customers win or not, they never lose their initial deposit.
Yotta's business model is similar to traditional banks in that it earns money through interest on deposits. The partner banks lend out the deposited funds and earn revenue, a portion of which is paid to Yotta as interest. Yotta then shares most of this interest with its customers through the sweepstakes, keeping a small portion as profit.
In addition, Yotta earns money through interchange revenue on card spend. When customers use their credit or debit cards, the merchant pays a fee to the card network and the issuing bank. Yotta receives a portion of this fee, which powers its Boxes and card rewards.
Lastly, Yotta generates revenue through customer purchases of Tokens to play its freemium game.
At a glance
- Status
- Operational
- Founded
- 2019
- Headquarters
- San Francisco, United States
- Employees
- 38
- Open positions
- None listed
- Dealroom signal
- 73.4/100
- Industry
- Fintech
- Sub-industry
- Wealth Management
- Sector
- Fintech, Pension and Savings, YC S20, financial inclusion
- Technology
- Mobile app
- Business model
- SaaS
- Client focus
- b2c
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VCEquity / VC | Feb 2022 | $10M | $40M | Undisclosed | — |
| SERIES A✓Equity / VC | Feb 2021 | $13M | $53M | Y Combinator · Base10 Partners · Ken Moelis · Core Innovation Capital | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Yotta is 210K monthly website visits, down 12.5% over the last three months. Yotta's team declined 5% over the past year.
Similar companies
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed6 investors entered at this stage
Y Combinator
Slow Ventures
Chapter One Ventures
CapitalX
TwentyTwo VC
FundersClub
Series A4 investors entered at this stage
Base10 Partners
Ken Moelis
Core Innovation Capital- CACliff Asness
Other known investors6 additional known investors
- BCBrowder Capital
Calm Ventures
Kube VC
Night Ventures
Realm Capital Ventures
Witz Ventures
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Yotta on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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