BERKELEY, Calif., April 6, 2021 /PRNewswire-PRWeb/ -- EvoShare, a microsavings-oriented FinTech startup based in Berkeley, CA, and SavvyFi, a tech-driven 529 employee benefit platform headquartered in Franklin, Tennessee, are announcing their partnership to make saving for college, and paying off student loans an automatic daily habit. This collaboration with SavvyFi aims to give everyone advanced tech that will help them cover education expenses without changing their spending habits.
EvoShare's proprietary system turns a percentage of every dollar spent at over 10,000 partnered local and online businesses, and 700,000+ hotels worldwide, into additional contributions for financial accounts, including 529 education savings plans. SavvyFi has simplified the signup process for 529 Plans and student loan repayment plans so any family can quickly start saving for the future, while enjoying unique features like gifting & cashback.
"SavvyFi has already made it easy for the whole family to get involved in adding to a 529 or paying off student loans. Our contribution is giving the whole family extra money from their daily shopping in the form of cashback. Now all the things parents or grandparents are buying for the kids can also help fund their education" – Eugeny Prudchyenko, CEO of EvoShare.
"Adding EvoShare's cash back rewards program to SavvyFi's platform gives families another opportunity to increase their savings without coming out of pocket. This also allows employers to provide a much-needed and valuable benefit without requiring the extra cost of matching contributions." – Jeffrey Hull, CEO of SavvyFi.
Given the current financial climate, parents are concerned about being able to save for their children's education, and recent grads will continue to struggle paying off their student loans. SavvyFi solved the problem of figuring out what kind of account to open, which investments to choose, and how to get started. With the addition of EvoShare, they have solved the last challenge - how to find money to contribute to a 529 account. This partnership is going to usher in an entirely new way to automatically save for college or pay down student debt whenever family members shop, dine or travel - without any impact on the family's budget.
EvoShare is the premier cash-back savings program that is giving employees a new, automated way to save for their financial future. EvoShare provides employers with a "set it and forget it" experience where employees can spend as usual at over 10,000 participating businesses and receive up to 20% cash back toward a financial account such as a 401(k) or 403(b) plan, IRA, HSA, student loan, 529 plan or emergency savings account.
EvoShare has been featured in Forbes, Inc., Entrepreneur, and The Huffington Post. It won the 2019 DC Genie Award from 401(k) TV for "Best Financial Technology" and was a finalist for KNect365's 2019 Finovate Award for "Top Emerging Tech Company."
SavvyFi's technology application makes saving for college and repaying student debt frictionless for families, benefits administrators, and benefit consultants. Employees digitally open and manage their 529 accounts on any device. Their contributions, gifts from friends and family, and cashback rewards are automatically invested in low-cost, age-based index funds, making SavvyFi a seamless benefit for companies of all sizes.
Chris Miller, EvoShare, 818-299-0087, [email protected]