UK-based EVERYTHING scores €2 million to reinvent Premium Bonds with a social twist

Founded in 2021, EVERYTHING is a UK fintech startup that’s on a mission to build the next social finance experience for Gen Z and young millennials. The company has just raised €2 million in the process from a group of high profile angel investors and entrepreneurs, including Sujay Tyle (Merama co-founder & CEO), Frontier Car Group founders (Peter Lindholm, Ricardo Donoso), Albin Johansson (Axel Arigato co-founder), and angel collective Framtid. 

Premium Bonds is one of the most popular savings methods in the UK, but, as argued by EVERYTHING founders Adam Lewestam, Thorir Gudlaugsson and Michael Wilkinson, is failing to meet the needs of new generations. 

EVERYTHING is offering a reimagination of Premium Bonds that has a social twist. EVERYTHING is free to join and use and users can win instant cash rewards every time they tap, spend or save money via the EVERYTHING debit Mastercard. To increase the chance of winning, people can also invite their friends and family to their own “SQUADS” and have a chance to win every time they spend or save too.

The way it works is simple, the company pools together a part of their revenue and allocates it to different reward buckets ranging from £1 up to £1 million. When a reward threshold has been funded, the next user who makes a payment becomes the winner. They will be notified in real-time through the EVERYTHING app and their rewards are deposited straight into their account.

Michael Wilkinson, co-founder and COO at EVERYTHING, said: Premium Bonds are the UK’s biggest and probably most loved savings product. Premium Bonds haven’t evolved for decades but remain popular across age groups, often gifted across generations. We want to reinvent Premium Bonds to make them more accessible for younger generations and inject the excitement of winning into everyday finances like spending and saving without the risk of losing.

With the new funding, the company plans to launch in the UK in the coming months and has already opened up its waitlist for people to sign up. EVERYTHING is using the regulated and authorized banking-as-a-service provider Railsbank to offer its services.