FinovateFall 2022 / PennyWorks
Presenter Profile:
How they describe themselves: For the sophisticated investor who believes their financial relationship ought to deliver more, PennyWorks tames the turbulence of investing with a secure and stable experience. Founded in 2021, PennyWorks is a high-yield, DeFi-based investing platform that revolutionizes traditional financial products through reliable digital asset strategies. To learn more about PennyWorks, please visit pennyworks.com.
How they describe their product/innovation: PennyWorks offers investors and businesses the opportunity to earn daily interest on funds with no lock up periods through the use of PennyWorks Notes. The PennyWorks Notes (promissory notes issued by HybridFi Lending LLC) pay interest daily and have no lock-up periods. You can redeem the notes for USD at any time. The funds are used to generate yield in digital-asset lending platforms.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
Contacts:
Bus. Dev. & Press: Devon Lodge (VP Marketing), devon@pennyworks.com
Website: pennyworks.com
LinkedIn: linkedin.com/company/pennyworks
Twitter: @pennyworks_
HQ: Hoboken, NJ, USA
Founded: March 2021
Product Demoed: PennyWorks
Metrics: $2M in funding, six full-time team members
Raising Funding: Seed
Presenters: Ivan Zhang, CEO & Co-Founder | Karol Przybytkowski, CTO & Co-Founder
- Key Executives
Ivan Zhang (CEO & Co-Founder)
Key Stats
- Key Investors
Recent funding round led by Hi2 Global, Zachary Harl (former CIO at Bank of America), Putra Manggala (former Staff Data Scientist at Shopify), and Leo Mizuhara (Head of Systematic Trading; Fixed Income Options at DRW Holdings)