Reseda Group acquires Live.Give.Save and launches Spave 2.0
What to know about the acquisition of Live.Give.Save:
- Live.Give.Save, the Red Wing-based, women-founded company, was acquired by Reseda Group (a wholly-owned credit services organization) from Michigan State University Federal Credit Union (MSUFCU)
- MSUFCU is the 43rd largest credit union in the country
- Acquisition deal (which closed on June 1, 2021) calls on Reseda group to form new company called Spave LLC
- Give.Save brings all its assets to Spave
- Reseda Group will own 80% of the company and Susan Langer will own 20% and continue to be CEO
- In addition to the acquisition news, the latest version of the Spave mobile application – 2.0 – is now available on the App Store and Google Play
- Spave deducts micro-amounts from a current account and automatically allocates them to savings and selected charities based on user-defined percentages
The quote: Susan Langer, CEO of Spave
“We have long been looking for a partner like MSU Federal Credit Union – a company with leadership that shares our vision of creating a better world and was actively seeking to invest in new technologies. We knew they could enrich our user experience, build industry credibility, and provide easy access to our target market.
Learn more about Spave by listening to The tech.mn Podcast featuring CEO Susan Langer.
For more information, read the press release below.
RED WING, MN and EAST LANSING, MI – June 1, 2021 – Live.Give.Save. Inc., a financial technology company founded by a woman who created the first mobile personal finance app to make saving and giving as easy as spending, today announced its acquisition by Reseda Group, a company in wholly owned by Michigan State University’s Federal Credit Union (MSUFCU) Credit Union Service Organization (CUSO), the 43rd largest credit union in the United States. The acquisition agreement, which closed on June 1, 2021, provides for Reseda Group LLC to form a new company called Spave LLC. Live, Give, Record. contributes all of its assets to Spave, and Reseda Group will own 80% of Spave. Live.Give.Save. Founder and CEO, Susan Sorensen Langer, will own 20% of Spave LLC and remain CEO.
Former investors in Live.Give.Save. included Golden Triangle Angel Fund, CFV Ventures (Charlotte NC), Founder Susan Langer, as well as family and friends.
“We have long been looking for a partner like MSU Federal Credit Union – a company with leadership that shares our vision of creating a better world and was actively seeking to invest in new technology,” said Langer. “We knew they could enrich our user experience, build industry credibility and provide easy access to our target market. “
Since its founding in 2016, the mission of Live.Give.Save. was to make the world a better place – one community, one person, one transaction at a time – by transforming spending for good, so that every dollar spent is an investment in itself and in a better world. With access to over 1.5 million accredited nonprofits, Live.Give.Save.’s mobile app, – Spave® – allows consumers to use their daily expenses to save for themselves. and to give to causes that are close to their hearts, without changing their way of life. . The result is a new level of control, convenience and choice for the consumer, and a transformative good for the world in the palm of their hand.
“We were looking for a partner like Live.Give.Save. evolve our technology offerings and be able to share this technology with the credit union industry, ”said April Clobes, CEO of Reseda Group and MSUFCU. “The credit union industry is built on the core value of people helping people, and the Spave® mobile app provides the platform to help people through technology. “
Version 2.0 of the Spave® application released
Along with the closing of its acquisition, Live.Give.Save. also announced today that the latest version of its Spave® mobile app is available for download on the iOS App Store and Google Play. Spave® is the very first mobile app that uses your daily expenses to help you give to causes you care about and save for your future without changing your lifestyle. The more you spend the more you save. The more you save, the more impact you will have – for yourself and for others.
Spave® deducts micro-amounts (“savings”) from your main checking account each time you make a purchase using cards linked to the application (debit or credit). You set the percentage to save, and Spave® automatically distributes them to your savings and the selected charity (s). The Spave® application allows you:
• Set it up and forget about it. Easily and securely link your accounts to start saving and giving with every pass of your card, then watch your savings grow.
• Define your savings amounts that allow you to live the life you want, give to the causes you care about, and save for a secure and fulfilling future.
• View your expenses, donations and savings in one place. • Set or change weekly, monthly or yearly goals and track your progress.
• Compare your charitable contributions and personal savings to your total expenses.
About Live.Give.Save., Inc.
Founded in 2016 and based in Red Wing, Minnesota, Live.Give.Save. is a financial technology company founded by a woman. Its proprietary technology platform and process solves the issues of balancing spending, savings and giving habits of consumers (especially millennials) using cutting-edge mobile technology. It is designed for users, by users, to help financial institutions and nonprofits better interact with their constituents (customers, contributors, and the community). More information is available at https://spave.us.
Version 2.0 of its Spave® app is now available for download from the iOS App Store at https://apps.apple.com/us/app/spave/id1567968091 or on Google Play at https: //play.google.com/ store / apps / details? id = com.spave.
About Michigan State University Federal Credit Union (MSUFCU) Based in East Lansing, Michigan, the MSUFCU is the largest college credit union in the world and is federally licensed and regulated by the National Credit Union Administration (NCUA) . MSUFCU provides a variety of financial products and services, including deposit accounts, personal and business loans, investments, and insurance, among others. MSUFCU is owned by its members and is overseen by a board of directors elected by the members. MSUFCU has 21 branches, over 304,000 members, over $ 6.3 billion in assets and nearly 980 employees. More information is available at https://www.msufcu.org/.