[June 19, 2013]

betterhaves Wins FinCapDev Competition, Captures $50,000 Grand Prize

betterhaves has won the Financial Capability Development Competition (FinCapDev), a $100,000 nationwide challenge facilitating the development of innovative, market-ready mobile apps to help consumers control and shape their financial futures and provide better access to financial services.

At yesterday's FinCapDev $100K Demo Day, held at the San Francisco Capital One (News - Alert) 360 Cafe, a panel of expert judges hailing from the venture capital, technology, entrepreneurial, media, accelerator, FinTech, and consumer finance spaces awarded betterhaves the $50,000 grand prize based on the app's innovativeness, impact, feasibility, and potential to expand financial capability and/or financial access. Thrifty Bunch and Down Payment Saver each won $20,000 while Smart Insurance and Financial Forest earned honorable mentions of $5,000 each. To learn more about all of the apps that presented at the FinCapDev $100K Demo Day, visit http://www.fincapdev.com/the-apps-are-in/.

Led by Itai Leibowitz, Marcos Sisqueira and Vanya Pasheva, betterhaves helps couples build and use a household budget together. The app is available for download on Google Play.

"This is a game-changing moment for betterhaves," said Sisqueira. "The prize money aside, FinCapDev has helped us turn an idea into a reality. And it's vaulted us to the next level in our mission to help couples make sound financial decisions."

The FinCapDev Finalist teams presented their apps to a panel of expert judges comprised of Meghan Casserly, Senior Writer, Forbes; Kaaren Hanson, Vice President, Design Innovation, Intuit (News - Alert); Jesse Middleton, Co-Founder, WeWork Labs; Hans Roderich, Venture Partner, Azure Capital; and Matt Wallaert, Behavioral Scientist, Bing. To learn more about the judges visit http://fincapdev.com/fincapdev-judges.

"The FinCapDev $100K Demo Day-and the competition as a whole-has been an incredible success," said Timothy Flacke, Executive Director of the D2D Fund, a FinCapDev administering organization. "From our generous funders to the countless supporters to the partners that helped these finalists turn their ideas into market-ready, fully-functioning apps, this is the foundation of a true ecosystem, and we're excited to keep growing it."

FinCapDev has been made possible thanks to the generous financial support of the Ford Foundation, the Citi Foundation, and Omidyar Network and is administered by the D2D Fund and the Center for Financial Services Innovation.

"One of the most exciting things about the $100K Demo Day is that it's just the beginning," said Jennifer Tescher, President & CEO of the Center for Financial Services Innovation, a FinCapDev administering organization. "We encourage anyone with an idea and a passion for tackling complex financial capability and access issues to stay tuned to FinCapDev.com for announcements of FinCapDev 2.0 launching in early 2014."

To sign up for FinCapDev updates, visit http://fincapdev.com/updates.

About FinCapDev

The Financial Capability Development Competition (FinCapDev) is a nationwide $100,000 challenge to develop new mobile apps to help working Americans make smart financial choices and get better access to financial services. In addition to bringing high-impact apps to market and available for consumers use, the competition is creating an ecosystem of American innovators, technology companies, software developers, financial service firms, investors, and nonprofits to foster innovation in new mobile financial tools. To learn more, visit http://fincapdev.com follow on Twitter (News - Alert) at @FinCapDev.

About the Center for Financial Services Innovation

The Center for Financial Services Innovation (CFSI) is the nation's leading authority on financial services for underserved consumers. Through insights gained by producing original research; promoting cross-sector collaboration; advising organizations and companies by offering specialized consulting services; shaping public policy; and investing in nonprofit organizations and start-ups, CFSI delivers a deeply interconnected suite of services benefiting underserved consumers. Since 2004, CFSI has worked with leaders and innovators in the business, government and nonprofit sectors to transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.com and join the conversation on Twitter at @CFSInnovation.

About Doorways to Dreams (D2D) Fund

Doorways to Dreams (D2D) Fund strengthens the financial opportunity and security of low and moderate income consumers by innovating, incubating, and stimulating new financial products and policies. Operating at the intersection of the private, non-profit and public sectors, D2D incubates and promotes practical applications with social impact that might otherwise lack a champion to nurture and bring them to market. D2D was incorporated as a 501 (c) 3 not-for-profit organization in 2000 and is headquartered in Allston neighborhood of Boston, across the street from Harvard University's recently opened Innovation Lab. For more on D2D, go to www.d2dfund.org and follow on Twitter at @D2DFund.

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