Prizeout is an advertising and financial technology company that helps put money back into people’s pockets. Through Prizeout’s technology, brand-funded offers are available to all partners, including financial institutions, gaming companies, gig economy startups, and more, giving them access to instant cashback from national and local brands when they shop with digital gift cards. Pulse 2.0 interviewed Prizeout CEO David Metz to gain a deeper understanding of the company.
David Metz’s Background
Could you tell me more about your background? Metz said:
“I’ve always had an entrepreneurial spirit and a curious mind. Growing up, I learned invaluable lessons from my entrepreneurial parents, who ran their own irrigation company before moving into commercial real estate. Our family dinners were filled with discussions about business—what worked, what didn’t, the highs, and the lows.”
“I was the college student who often skipped class to dive into ancient history books in the library. Self-taught and a quick learner, I’ve always believed in the value of learning beyond the classroom. As Mark Twain said, “I never let school get in the way of my education.” Over the past several decades, I’ve built my career as an entrepreneur. I started my first company, Flugpo, in 2006 after a decade in financial services and equity trading. Before founding Prizeout, I was the CEO and co-founder of a mobile trivia app called FleetWit.”
Formation Of The Company
How did the idea for the company come together? Metz shared:
“The idea for Prizeout came on the heels of my last company, Fleetwit. Fleetwit was a trivia app where users competed for real money. To succeed, I needed customers and a way for them to withdraw their winnings. I spent heavily on Facebook and Google ads to acquire users, while offering digital gift cards as a withdrawal option. Over time, I realized I was losing money on ads while the gift card companies were paying the brands. That sparked an idea: what if brands paid us to be included as a withdrawal option? When the brands said yes, I knew I had solved a major problem. I went to my board with a bold proposal: shut down FleetWit and focus on a new opportunity. Thanks to their trust, we pivoted seamlessly, and Prizeout was born.”
“Six years later, Prizeout is thriving, but I’ll never forget the moment I knew we’d made the right decision. Just 48 hours after launch, I got a notification: someone purchased a $1,000 gift card. We had connected a user to a brand and generated $1,000 in sales for Target. That moment proved the model worked—and set the stage for everything that’s followed.”
Favorite Memory
What has been your favorite memory working for the company so far? Metz reflected:
“My favorite memories and moments are when the team wins—whether it’s securing a key partnership, delivering for shareholders, or celebrating individual growth. Seeing people who joined three years ago step into major leadership roles, or being able to promote or reward them, brings me immense pride. And returning capital to shareholders who believed in me has been one of the most fulfilling milestones of all.”
Core Products
What are the company’s core products and features? Metz explained:
“Credit union members are constantly looking to improve financial wellness and to be rewarded; credit unions are always striving to be top of wallet, grow non-interest income and better serve their members. Current rewards platforms are confusing, leading members offsite and offering points that are difficult to understand.”
“To solve for this, Prizeout built CashBack+, the first platform to combine all cashback rewards into a central balance completely behind banking walls. The three co-branded products (Offers, Pay, Rewards), result in one simple cashback balance for members – no points, no vague rewards, just straight cash. Built by credit unions for credit unions, the CashBack+ suite of products allows credit unions of all sizes to design and offer rewards, loyalty, and engagement solutions. Credit unions can now compete and win in the battle to retain and grow their membership.”
Challenges Faced
Have you faced any challenges in your sector of work recently? Metz acknowledged:
“A defining moment of my entrepreneurial resilience was when both an investor and a celebrity I had a meeting set up with, ghosted after I had flown in for the meeting. Talk about shattering hope. I believe that hope is an entrepreneur’s most valuable asset, and when that is shattered, it teaches resilience. Now, as an angel investor myself, I’ve become more cautious and understanding when it comes to meeting with young entrepreneurs. and also learned the importance of maintaining irrational optimism in the face of adversity – especially when the odds seem stacked against success (which, 9/10 startups fail so often it is).”
Evolution Of The Company’s Technology
How has the company’s technology evolved since its launch? Metz noted:
“Prizeout has undergone a complete transformation as we’ve developed new products. Initially, Prizeout served as a withdrawal method for industries like gaming, banking, crypto, gig economy, payroll, and finance, helping users monetize their financial balances. Through exclusive partnerships, we offered users access to bonus offers from popular and emerging brands. Over the past three years, we’ve shifted our focus to primarily working with credit unions, creating the first-ever rewards platform tailored to them—a technology and innovation previously unavailable. Our product continues to evolve in response to customer demand.”
Significant Milestones
What have been some of the company’s most significant milestones? Metz cited:
“At 46 years old and having started multiple businesses, there have been so many significant milestones in my career – the first time I raised money, the first time I hired an employee, the first incorporation letter. They were all milestones in their own right. Here’s what I’ve really learned: it’s important to remember that “this could be your last first time.” This is something that as an entrepreneur that is always on the go, that is easy to lose sight of. I think the accomplishment is staying in the present moment and understanding that every moment as you build and grow, is a milestone, and to recognize it in that moment.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Metz estimated that it is about $1 trillion.
Differentiation From The Competition
What differentiates the company from its competition? Metz affirmed:
“We do not have direct competition in what we are building – that’s why we’re building it.”
Future Company Goals
What are some of the company’s future company goals? Metz concluded:
“While we can’t share all the details yet, the groundbreaking products we’re launching next year will redefine what’s possible in the credit union industry. That said, our vision for the company extends beyond individual innovations—we’re here to reshape the financial ecosystem to ensure credit unions have the tools and resources they need to thrive.”
“We are deeply committed to leveling the playing field so credit unions can offer their members the same advantages as larger financial institutions, while staying true to their mission of community, service, and trust. By empowering credit unions, we’re not just transforming their future—we’re helping create a more equitable, accessible, and sustainable financial landscape for everyone.”
