Wedding website start-up SwanLuv is offering soon-to-be-weds up to $10,000 to spend freely on their big day — but there’s a rather devious catch: couples need to pay back the entire sum with interest if they get divorced. While the website is pretty much betting against these couples’ relationships, they counter critics by promising to “keep the dream alive” by using all of the money collected from members who got a divorce to “[provide] funds for future couples’ dream weddings.” CEO Scott Avy insists he’s just providing a service that couples can voluntarily choose to sign up for: “It really depends on where you are in your relationship,” he told GeekWire. “I’m betting on my relationship I’ve established with my soulmate. It’s going to be a no-brainer for the ones it makes sense for.”
Avy describes his business as a “casino for marriages”, and says his company will protect itself by assessing statistics and surveying couples, offering a higher interest rate to those they determine to be in stronger relationships. There are also a few stipulations in the contract to protect the couples, saying for example that one person is responsible for the payment if the marriage ends because of abuse. The start-up is now taking applications and intends to start issuing the first of these payments around February 2016, as soon as they have raised enough outside funding. Just in time for your romantic Valentine’s Day proposal!
Read the full story at GeekWire.