WeWard's Concept

WeWard is a free app that incentivizes users to walk by offering real-world rewards. It tracks users' steps and lets them earn points, called 'Wards,' which can be exchanged for gift cards, donations, or discounts.

The goal is to encourage people to be more active while benefiting from their daily movement. Beyond physical rewards, users can collect virtual trading cards, dubbed WeCards, placed at specific locations on the map, similar to Pokémon Go.

Venus Williams' Investment

Venus Williams has invested an undisclosed sum in WeWard and will also act as an ambassador. WeWard has committed to donating $25,000 to Williams' charity, CARE, and will host a month-long 'Venus Williams Championship' where users can unlock up to $40,000 in donations by reaching step milestones.

Williams stated that moving one's body is a key part of staying well and active, and WeWard makes walking a fun and rewarding experience. Her investment portfolio also includes French social investing app Shares and Pelago, a British startup tackling substance abuse via 'virtual clinics.'

WeWard's Performance

Approximately 6.5 million WeCards are collected daily by the roughly 20 million people who use the app. WeWard generates revenue through retail partnerships, advertising, and features like 'Playtime,' where users can earn additional rewards by engaging with third-party mobile games directly through the app.

WeWard is almost completely bootstrapped, save for a few hundred thousand euros in seed funding raised in 2020. Despite not raising much capital itself, the company has handed out plenty of money, giving $20 million in cash back to users and $1 million to charity partners to date.