# Yotta

> Yotta Technologies is a US consumer app founded by Adam Moelis and Ben Doyle in 2019. It began with prize-linked savings and now markets sweepstakes games using Tokens and YottaCash. Its former banking customers were affected by the 2024 Synapse collapse; California imposed a $1 million penalty on Yotta in May 2026 over deceptive safety claims.

- **Founded:** 2019
- **Headquarters:** San Francisco, United States
- **Founders:** Adam Moelis (Co-founder and CEO), Ben Doyle (Co-founder and CTO)
- **Products:** Prize-linked savings (historical), Debit card and savings buckets (historical), I-Bonds Bucket (historical), Tokens and YottaCash games
- **Notable:** Joined Y Combinator’s Summer 2020 batch., Raised a $13.2 million Series A in January 2021., Moelis reported more than $6 million in prizes awarded in an April 2022 founder AMA; self-reported.

## Products & services

- **Prize-linked savings (historical)** — Savings balances earned recurring drawing tickets; the original model offered one ticket per $25 deposited and a small savings bonus. Banking access was disrupted by Synapse’s 2024 collapse.
- **Debit card and savings buckets (historical)** — Spending access and tools to organize savings into goals were part of the former banking offering.
- **I-Bonds Bucket (historical)** — A service that simplified access to US Series I savings bonds, reported in 2022.
- **Tokens and YottaCash games** — Tokens support recreational play and optional purchases. YottaCash supports sweepstakes entry and prize opportunities under published eligibility and redemption rules.

## Achievements

- Joined Y Combinator’s Summer 2020 batch.
- Raised a $13.2 million Series A in January 2021.
- Moelis reported more than $6 million in prizes awarded in an April 2022 founder AMA; self-reported.

## Latest updates

- **2026-05** — California imposed a $1 million penalty and required notices and records to assist affected consumers.
- **2026-05** — The CFPB allocated another $8,965,767 for eligible Synapse victims, following $46,248,291 allocated in November 2025; these are ecosystem-wide allocations.
- **2026-08** — Yotta’s August 31 update acknowledged the additional allocation and said payment timing and individual amounts remained undetermined.

## Links

- Website: https://www.withyotta.com/
- LinkedIn: https://www.linkedin.com/company/yottasaving/
- Twitter/X: https://twitter.com/yottasavings
- Instagram: https://www.instagram.com/yottasavings/
- Facebook: https://www.facebook.com/withyotta

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Profile page: https://yespress.io/yotta
Published by YesPress — https://yespress.io
Last updated: 2026-10-05