Tech

Latest Tech Transplant: BoostUp Moves to Detroit From Chicago

October 23, 2013, 9:30 AM

A "social savings" startup that changed its name and headquarters city is now part of the Madison Building scene in downtown Detroit.

The firm, BoostUp, is designed to help users save for a car, home, wedding, trip or other big expense.

A boost of its own comes from "a $1-million round of funding led by Detroit Venture Partners," Matt Roush reports at WWJ's tech e-newsletter:

Other investors include Cornerstone Opportunity Partners, angel investor Patrick Sullivan, and IncWell. As part of IncWell’s investment, Tom LaSorda, former CEO of Chrysler, has signed on as a BoostUp advisor. . . .

Originally launched in Chicago in 2010 as Motozuma, founder and CEO John Morgan moved the company to Detroit’s M@dison Building in August to take advantage of the opportunities in its growing tech corridor. Since that time, BoostUp has expanded its services and more than doubled in size. . . .

Users can save their own money toward their goal, receive contributions from family and friends, and be rewarded with savings boosts from brands. . . . For example, Hyundai will add a savings boost of up to $500 for BoostUp users when purchasing a Hyundai vehicle.


Read more:  WWJ


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