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Interview with Prizeout CEO David Metz: Revolutionizing AdTech & FinTech
Prizeout stands at the intersection of advertising and financial technology, offering a unique solution that puts cash back in people’s pockets. With its innovative platform, Prizeout collaborates with a range of partners—from financial institutions to gig economy startups—to provide instant cashback via digital gift cards. In an exclusive interview, we sit down with CEO David Metz to unravel the story behind this ambitious venture.
David Metz’s Inspiring Journey
David Metz opens up about his entrepreneurial journey, shaped profoundly by his upbringing. “I’ve always had an entrepreneurial spirit,” he shares. Coming from a family of entrepreneurs, Metz absorbed invaluable lessons during family dinners, where discussions about business successes and failures filled the air.
"I was the college student who often skipped class to dive into ancient history books," Metz recalls. This self-taught eagerness led him to launch his first company, Flugpo, in 2006 after a decade working in financial services and equity trading. His journey continued with the mobile trivia app FleetWit, before establishing Prizeout.
The Genesis of Prizeout
Metz discovered the foundational idea for Prizeout during his time with FleetWit. Struggling to acquire users while managing high advertising costs, he realized that partnering with brands to offer gift cards could mitigate these expenses.
"When brands agreed to pay for inclusion as a withdrawal option, I knew I had solved a major problem," he explains. This pivotal moment led to a bold proposal: transitioning from FleetWit to Prizeout.
Just 48 hours after launch, Metz experienced a breakthrough: a $1,000 gift card purchase, confirming the viability of their model.
Celebrating Team Successes
Reflecting on his time at Prizeout, Metz finds fulfillment in collective achievements. “Seeing team members step into leadership roles and rewarding their growth is immensely gratifying,” he notes. Most importantly, returning capital to shareholders has been a milestone filled with pride.
Core Products of Prizeout
Prizeout’s CashBack+ platform revolutionizes the rewards landscape for credit unions and their members. Metz explains:
"Credit union members want to enhance their financial wellness, but existing rewards programs are often confusing."
The CashBack+ suite delivers a streamlined solution that aggregates cashback rewards into a clear, centralized balance—no points, just real cash. This allows credit unions of all sizes to compete effectively in retaining and growing their member base.
Navigating Challenges
Every entrepreneur faces hurdles, and Metz’s resilience was tested when an investor and celebrity ghosted him after a crucial meeting. “Hope is an entrepreneur’s most valuable asset,” he reflects, emphasizing the importance of perseverance in the face of adversity.
Evolution of Technology at Prizeout
Since launching, Prizeout’s technology has evolved dramatically. Initially focused on providing a withdrawal method for various industries, Prizeout has pivoted to offer the first-ever rewards platform specifically designed for credit unions. This evolution responds to customer demands and market trends.
Milestones and Lessons Learned
Throughout Metz’s journey, numerous milestones mark the path to success—from raising initial funds to hiring employees. “Every moment is a milestone in its own right. The true accomplishment lies in staying present,” he advises, reminding entrepreneurs to acknowledge each achievement along their journey.
Addressing a $1 Trillion Market
Metz estimates that Prizeout is pursuing a total addressable market (TAM) of about $1 trillion, a reflection of the vast potential for growth and innovation in the industry.
Distinctively Positioned Against Competition
In a candid moment, Metz states, “We do not have direct competition in what we are building—that’s why we’re building it.” This unique position allows Prizeout to redefine the norms of the fintech landscape.
Future Goals: Shaping the Financial Landscape
When asked about future plans, Metz drops hints of groundbreaking products set to launch next year that will transform the credit union space.
“Our mission goes beyond product launches; we aim to reshape the entire financial ecosystem for credit unions,” he states passionately.
By leveling the playing field, Prizeout strives to empower credit unions, making financial services more equitable and accessible to all.
For those interested in exploring the transformative capabilities of Prizeout, keep an eye on their innovations as they continue to reshape the financial landscape. With a commitment to community and service, Metz and his team are paving the way for a more inclusive future in financial technology.
For more insights on fintech innovations, visit here.
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