Wednesday, June 29, 2011
Payoff.com Launches Personal Finance Site, Backed By $3.5M
Los Angeles-based Payoff.com, a new startup led by Scott Saunders, said Tuesday that it has officially launched its free, social finance site. The firm said it is backed with $3.5M in investment capital from FirstMark Capital, as well as angel investors Betsy Bernard, the former President of AT&T; Kai Huang, founder of Guitar Hero; Jim Nordstrom, former president of Nordstrom; David Solomon, Global co-head of Investment Banking at Goldman Sachs, and others. Payoff.com's web site centers around sharing dreams and saving goals with others, and earning special badges for reaching steps along the way to those goals. In particular, the firm is looking to help consumers pay off their debt and meet savings goals, with a social twist. Among the notable advisors to the firm is Dr. Galen Buckwalter, founder and Chief Scientist at eHarmony.