BoostUp Launches New Crowdsavings Platform in Detroit

By Amanda Lewan on October 28th, 2013 / Comments

The word “crowdsavings” might do a better job of describing this hybrid savings and crowdfunding platform. The startup BoostUp has launched from Detroit, after leaving Chicago to join the motor city.

BoostUp allows users to save towards major financial purchases like a car, a home, or a wedding. The online platform allows for users to save up, receive contributions from family and friends, and also receive bonuses from partner companies. For example, Hyundai might add a savings boost of $500 for BoostUp users who want to purchase a Hyundai vehicle.

The startup recently received $1 million in funding from Detroit Venture Partners and also received funding from Tom Lasorda’s IncWell. These are proving to be two smart funding options for those interested in the internet/auto space. Locating in Detroit could also help boost this startups growth.

Would you like help saving for your next big purchase? I’d say yes please. My dad wouldn’t quite know how to use the internet for something like this though.

Check out the story in Xconomy Detroit and Crain‘s.

About the Author

Amanda Lewan

Amanda Lewan

Editor @michipreneur. Co-founder Bamboo Detroit. Follow me @Amanda_Jenn. I love telling the story of entrepreneurs and innovators.