About Lodavo
Saving should be exciting
Lodavo is Canada’s first prize-linked savings app, built in Montreal. It’s free, your money never leaves your own bank, and every dollar you save earns tickets into a weekly cash prize draw.
Our mission
Help more Canadians build the habit of saving, by making it genuinely fun instead of a chore.
Why we built Lodavo
Most of us know we should save more. The problem is that saving is boring. You put money aside, nothing happens, and the payoff is years away. Meanwhile a lottery ticket gives you a jolt of excitement for a couple of dollars, even though the odds are stacked against you and the money is pretty much gone the moment you buy it.
Lodavo started with a few Montreal university students who saw a big problem and set out to solve it. We kept coming back to one question: what if saving came with that same excitement, but without ever putting your money at risk? The idea already had a name, prize-linked savings, and a long track record around the world. It just hadn’t arrived in Canada. So we built it.
With Lodavo, you keep saving in your own bank account, exactly like you do now. The money you save earns tickets into a weekly draw, someone is guaranteed at least $100 every week, and you can win up to $10,000 without ever putting a dollar at risk. There’s no losing, just saving.
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How Lodavo works
It’s simple. You save money in your own bank, earn tickets as you go, and every week your tickets are in the running for a cash prize. The more you save, the more tickets you get, and you can watch your savings grow right in the app. And even in a week you don’t win, you still come out ahead, because you kept saving. Want to learn more? Read how we keep your money safe, see how the draws are provably fair, or learn what prize-linked savings is.
The team
Lodavo is built in Montreal by a small team. We’re close to the people we build for, and we answer our own email. No call centres, and no canned bot replies that ignore what you actually asked.
What Lodavo is, and what it isn’t
Always free
No fees and no subscription. You never pay to save or to enter the weekly draw.
Your money stays in your bank
You connect your bank read-only through Plaid. Lodavo can never hold, move, or withdraw a cent.
Not a bank, just a tech company
Lodavo isn’t a bank or a savings account, and it pays no interest. Your savings stay in your own bank and are protected there, on that bank’s terms.
Provably fair
Every weekly draw is locked in before any number is picked, so no one can rig the result.
More on how we protect your money and data.
Built with Canada's top fintech accelerators
We’d love to hear from you
We’re a small team in Montreal and we’re always glad to hear from people who care about this. Interested in joining us? See careers. Have a question or feedback? Contact us.
Canada’s first prize-linked savings app
The more you save, the more chances you get to win
Lodavo is free. Keep saving at the bank you already use, and earn free tickets in every weekly draw.
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