Press about Dyme



September 15, 2015
For Immediate Release
Contact on behalf of Dyme:
Molly Ishkanian
Molly@r-west.com
971-242-8258
Dyme, a Personal Savings Platform, Launches in Beta

Dyme Teaches Millennial Spenders How to Save Through the Power of Text Messages

SAN FRANCISCO – Sept. 15, 2015 – Dyme, the free mobile platform that turns spenders into purposeful savers, released the beta version of its app today. The app asks users to set a personal savings goal and then uses text message prompts to help them achieve their goal—whether it’s to buy a new bike, book a vacation or secure a home down payment.

“Millennials are now the largest generation of consumers in the U.S., on average spending $1.02 for every dollar earned. While there are other financial saving apps on the market, they lack one important function – education,” commented Dyme founder Joseph Prather. “We created Dyme to fill this hole by encouraging millenials to save through a channel they are all too familiar with – text messages.”


How Dyme Helps People Save Money
Dyme enables a simple four-part process to help would-be savers attain personal financial goals. Instead of an invisible hand that automatically transfers funds from checking to savings accounts, Dyme empowers savers to control the entire process, encouraging healthy savings habits that fit each individual’s lifestyle and desires.
  • Set: Select a goal to achieve through savings.
  • Send: Provide a weekly savings goal sum to Dyme via text—called impulse savings.
  • Save: Dyme sends regular text prompts and savings updates each week to chart progress within the secured account.
  • Spend: The app notifies the saver as soon as the financial savings goal is achieved.

  • In Dyme’s alpha test, participants generated an average savings of $40-$95 dollars per week, sparking the interest of Gibraltar Ventures, the venture capital arm of Prudential.

    CEO Prather will demo the beta version at the Finovate Conference on Thursday, Sept. 17, in New York City, and again the following day at the FinCon Expo in Charlotte, N.C.

    Click here to join the Dyme beta: https://beta.dyme.co/


    About Dyme
    Dyme is a mobile text-messaging platform designed to empower savers by providing a simple yet effective impulse-savings framework to achieve personal financial goals. Founded in 2014 by serial entrepreneur Joseph Prather, Dyme’s successful alpha launch earned the San Francisco-based startup seed funding from Gibraltar Ventures, the venture capital arm of Prudential Financial. For more information about Dyme, visit www.dyme.co.