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Forfeit

An app that takes your money if you don't complete your habits.

Say what you're going to do, when you're going to do it, and how much money you'll forfeit if you don't do it. Send photo or timelapse evidence of you completing the habit by the time you set, or we take your money. Eg, I could set it to go to the gym (or meditate for 30 mins, or take a photo of a sent email, or of a max amount of calories on MyFitnessPal) tomorrow at 6am, or lose $30. If I don't send photo evidence in the gym (that we manually approve), I lose $30.

Forfeit
Founded:2022
Team Size:2
Location:Manchester, United Kingdom

Active Founders

Josh Mitchell

Grew up in a village near Manchester, England. Was really into building 3D printers/CNC machines as a kid, went to Stanford for 2 years, and dropped out to do YC.

Josh Mitchell
Josh Mitchell
Forfeit

Eddie Raven

After finishing Colledge I went straight into industry as a Software Engineer. Throughout the pandemic, I began working on creating Forfeit in my spare time with my co-founder Josh. After refining the product over the last 2 years (2020-2022) we decided it was the right time to apply to YC in order to work on Forfeit full-time.

Eddie Raven
Eddie Raven
Forfeit

Company Launches

tl/dr: Forfeit is an iOS/Android app that takes your money if you don’t do what you say you’re going to do. You must submit photo/timelapse evidence of you completing said habit, which we then manually verify on our end, or we take your money.

Eg, I know there’s a very slim chance I can motivate myself to go to the gym each weekday morning at 6am for the next 4 weeks. I can set a Forfeit to force me to send a photo, inside the gym, each morning at 6am, or lose $20 each time I don’t. It’s pretty much unlimited willpower!

💰Opportunity:

Most people struggle with forming habits, and this is the only thing that truly motivates a subset of these people. We have a very short payback period on our initial ad campaign, and for a while have had a small amount of users that love us and run a lot of their life through our app.

Our ask:

🚀 Procrastinating on your YC launch (like us)?
🧘‍♀️ Want to meditate consistently for the next 30 days?
🏋️ Want to be more consistent in the gym?
✅ Have a load of boring ToDos that you wish you could be forced to grind out in 5hrs?
📈 Absolutely anything you want to force yourself to do, that you can either self-verify or prove with a photo/timelapse?

Give it a try here!

https://apps.apple.com/us/app/forfeit-do-it-or-donate/id1633125787
https://play.google.com/store/apps/details?id=app.forfeit.forfeit

Selected answers from Forfeit's original YC application for the W23 Batch

Describe what your company does in 50 characters or less.

Force you to complete habits or we take your money

What is your company going to make? Please describe your product and what it does or will do.

We're an Android/iOS app that users can use to set habit contracts: They say what they're going to do, when they're going to do it, and how much money they'll lose (to us) if they don't complete it. They then must send photo or timelapse proof of them completing their habits by the time they set, or they forfeit the money to us. We manually verify each photo/timelapse.

YC W23 Application Video