Lodavo Is Live: Canada's First Prize-Linked Savings App Launches on iOS and Android

After years of building, testing, and listening to feedback from thousands of Canadians, we’re thrilled to announce that Lodavo is officially live on the App Store and Google Play. Canada’s first prize-linked savings app is now in your pocket and ready to help you save more and have a shot at winning up to $10,000 every single week.

If you’ve ever wondered what it would feel like if saving money was actually exciting, this is your moment. Lodavo is now available to download for free across Canada, and there’s never been a better time to start building healthier financial habits.

What Is Lodavo? A New Way to Save Money in Canada

Lodavo is a free Canadian savings app built around a simple idea: saving should feel as exciting as the lottery, but without any of the risk. We call it prize-linked savings, and it’s already wildly popular in the United Kingdom and the United States. Lodavo is the first app to bring this proven model to Canadians, in a way that’s mobile-first, completely free, and designed for the way Canadians actually save.

Here’s how it works in three steps:

1. Save: Securely connect your bank accounts so Lodavo can track what you save. Your money never leaves your bank and it keeps earning interest just like before.
2. Play: Pick your lucky numbers each week and earn entries into our weekly draws. The more you save, the more tickets you get.
3. Win: Match the winning numbers and you can win up to $10,000 in cash. There’s also a guaranteed weekly prize of at least $100, and the experience is completely free, every single week.

Why We Built Lodavo: The Canadian Savings Crisis

More than one in four Canadians say they couldn’t cover an unexpected $500 expense (opens in a new tab), yet more than half of Canadian adults still buy lottery or raffle tickets in a typical year (opens in a new tab). We pour billions into games of chance that almost never pay back, while our emergency funds sit empty.

Traditional savings accounts haven’t solved this problem because they were never designed to compete for our attention. They feel boring, slow, and abstract. Lodavo flips that on its head. By layering free weekly cash prizes on top of a real savings habit, we make the safest financial choice you can make also the most exciting one.

What You Can Win With Lodavo

Lodavo runs a free draw every single week. There’s no purchase necessary, no entry fee, and no catch. As long as you’re saving in your linked account, you’re already earning tickets. The prizes you can win include:

• $100 every week, guaranteed to go to one of our members. There’s always a winner.
• Up to $10,000 if your ticket matches all 7 numbers in the weekly draw.
• Bonus prizes from partner promotions and seasonal campaigns we’ll run throughout the year.

Once a draw is settled, the winner is notified, completes a quick skill-testing question as per Canadian contest regulations, and then receives the prize by Interac e-Transfer or bank transfer. Fast, fair, and built to keep things compliant with Canadian rules.

Is Lodavo Safe? Yes, Your Money Stays in Your Bank

We get this question a lot, and the answer is the part of Lodavo we are most proud of. Lodavo never holds your money. When you connect a bank account, we use bank-grade, read-only access to see your balances so we can verify your savings and so that you can track your progress in the app. We can’t move your funds, withdraw from your account, or charge you anything. Your money stays exactly where it’s always been: at your own Canadian bank, fully protected and earning whatever interest your bank already pays.

Lodavo is also completely free. There are no subscription fees, no charges of any kind, and no purchase necessary to enter our weekly draws. The prizes we award come from partnerships, sponsors, and promotional campaigns, not from your wallet.

Made by Canadians, for Canadians

Lodavo was founded in Montreal in 2022 and built end to end by a Canadian team. We’ve been backed and supported by some of the country’s leading fintech ecosystems, including Fintech Cadence (opens in a new tab) and Fintech Station (opens in a new tab). Every line of code, every prize draw, and every customer support reply is built around helping Canadians like you save more.

Launching Lodavo nationwide is a milestone we’ve been working toward for years, and we couldn’t be more excited to finally get the app in your hands.

Download Lodavo on iOS and Android Today

Getting started takes about two minutes. Download the Lodavo app for free, sign up, securely connect a bank account, pick your lucky numbers, and you’re entered into the weekly draws. There’s nothing to buy, no fees to worry about, and no minimum balance to start.

Lodavo is available on iPhone through the App Store and on Android through Google Play. Whether you’ve been saving for years or you’re starting from zero this week, we built this for you.

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Terms and conditions apply. No purchase necessary (alternate method of entry available). Skill-testing question required. Open to legal residents of Canada who are the age of majority. Odds depend on the number of eligible entries received. Full rules and odds at our contest rules.