Personal finance apps company Truebill raises $ 45 million
- Personal finance app Truebill has announced that it has raised $ 45 million in Series D funding. Those are the details.
Truebill – a popular personal finance app – announced that it had raised $ 45 million in a Series D funding round led by Accel with participation from existing backers Bessemer Venture Partners, Cota Capital and Eldridge Industries. Including this round, Truebill raised a total of $ 85 million.
With this new funding round, Truebill will extend its platform of financial management tools to give users more visibility and control over their money than ever before. New features being rolled out will include comprehensive tracking of assets and debt over time, an AI-powered automated savings tool that effortlessly saves money while maintaining healthy cash flow, and web platform.
Since the announcement of Truebill’s $ 17 million Series C cycle in November 2020, the company has already grown its active user base from 1 million to 2 million and is currently analyzing over 200 million monthly transactions for a monthly transaction volume of over $ 40 billion. And Truebill has also more than doubled its staff since November to more than 100 employees and plans to continue to grow its product, data science, engineering, marketing and user support teams to expand its offerings.
“Over 10,000 members sign up to Truebill every day to better understand and improve their finances. With this new capital, we are transforming Truebill into an all-in-one holistic platform that allows members not only to easily manage subscriptions and expenses, but also to optimize their savings and make informed decisions to improve their financial health. Truebill is quickly becoming the most valuable financial membership for everyday consumers.
– Haroon Mokhtarzada, co-founder and CEO
“We are impressed with the number of followers Truebill has accumulated and how quickly the business has grown over the past year. Truebill’s dedication to improving the financial health of its members is unparalleled and we are proud to support their expansion.
– Nate Niparko, partner at Accel