LOS ANGELES, Jan. 5, 2011 /PRNewswire/ — Today, Payoff.com (www.payoff.com) launches as a free interactive website that uses game dynamics to help people take control of their financial lives, enabling them to ultimately fund their dreams. By providing tools and creative solutions to money management, Payoff has designed a more entertaining, social gaming approach to managing finances. Payoff recently secured a $3 million round of funding led by FirstMark Capital, Phillip Riese (Former President, American Express), Kai Huang (Founder, Guitar Hero), Bob Allison (CEO, Innovate Partners), Bill Cvengros (Former CEO, PIMCO) and several other angel investors.
“Payoff helps people take more ownership of their finances, engaging them in a more culturally relevant and rewarding approach to money unlike anything in the marketplace today,” said Scott Saunders, CEO and founder of Payoff. “At this critical crossroads in our nation’s history, Payoff hopes to inspire a deeper level of engagement in the game of real life.”
Payoff helps users decrease debt, save for the future, create an enterprise, give to others, and build a meaningful legacy. Individuals sign up online for free, set a personal goal and start playing. Users are incentivized to achieve their goals with badges and cash sur-prizes along the way. Throughout their journey, they are given insight from Payoff’s easy-to-understand educational tools delivered in the form of videos and infographics.
Payoff recommends tools based on their value to the consumer, the company’s honesty and transparency, fair pricing approach, and Payoff team members’ direct experience with the tool. Tools range from consumer cost savings sites and small business funding communities to alternative loan sites and honeymoon gift registries and currently include AirBNB, LegalZoom, BillShrink, Lending Club, Profounder, and Honeyfund, among others.
In conjunction with its launch, today Payoff kicks off the “Freedom to Dream Contest.” To participate, candidates must register as Payoff users, “like” Payoff on Facebook – http://www.facebook.com/Payoff – and then post a story on Payoff’s Facebook contest page about what dream they would pursue if they were debt-free. The contest runs through February 5, 2011, and the person with the most passionate and compelling story will win $5,000 toward paying off their debt.
For more information about Payoff, visit www.payoff.com.
Payoff is the Game of Real Life — it’s a web application that allows people to get a handle on their financial lives and to fund their dreams. By providing links to tools and unique insights for managing money and Goals, Payoff guides users to take actions that are truly beneficial in their financial lives. Users can pay off debt, save for the future, start a business, give to others, and build a meaningful legacy. Payoff incentivizes achievement of Goals by awarding Badges and cash Sur-Prizes along the way. Payoff was founded in 2009 and is based in Los Angeles, California. For more information, visit www.payoff.com.
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