Monarch, a personal finance app based in San Francisco, has raised $75 million in a Series B funding round. The investment was co-led by FPV Ventures and Forerunner Ventures, with continued support from Accel, SignalFire, Clocktower Ventures, and Menlo Ventures. This latest round places Monarch’s valuation at $850 million. The company, founded in 2018, offers users a comprehensive view of their finances by linking bank accounts, credit cards, investments, loans, and real estate. Its mobile platform includes tools for tracking net worth, receiving tailored financial guidance, projecting savings, and managing budgets.
Monarch has seen a significant increase in its subscriber base after Intuit announced it would shut down Mint, a competing personal finance app. Monarch's CEO and Co-Founder, Val Agostino, formerly a Product Director at Mint, shared that user growth surged following the news. In response to the funding, Monarch stated it plans to expand its platform and grow its team. The company is actively hiring for roles in engineering and marketing across North America, aiming to improve its services and support a larger user base.
