SAN FRANCISCO: Monarch, a personal finance startup, has secured $75 million in funding to fuel its rapid subscriber growth following the shutdown of budgeting tool Mint last year.
According to reports, The Series B round, led by Forerunner Ventures and FPV Ventures, values Monarch at $850 million, co-founder Val Agostino said. The company, founded in 2018, saw its user base surge 20-fold after Intuit closed Mint in early 2024.
Unlike its predecessor, Monarch relies on paying subscribers rather than advertising. The platform offers an all-in-one mobile app for managing spending, investments and financial goals, aiming to simplify personal finance for American families.
FPV co-founder Wesley Chan compared Monarch’s approach to his past investments, citing its ease of use and high engagement. The round comes as U.S. consumer fintech funding remains sluggish, with venture capital largely favoring enterprise-focused firms.