Personal finance app Monarch raised $75 million for growth, valued at $850 million

From CNBC: 2025-05-23 08:31:00

Monarch, a personal finance startup, raised $75 million to accelerate growth after Mint’s closure, valuing the company at $850 million. The app offers spending, investment, and money goal tracking, filling the void left by Mint. Monarch saw a 20x increase in subscribers post-Mint’s shutdown.

Monarch, founded in 2018, focuses on paid subscribers rather than advertising or selling data. The company aims to simplify onboarding and expense tracking, distinguishing itself from free or banking app-embedded tools. Investors see Monarch as a standout in the consumer fintech space, much like graphic design platform Canva.

Amid declining interest in direct-to-consumer fintechs, Monarch’s large Series B round stands out. The sector raised $1.9 billion in Q1, with a shift towards enterprise fintechs. Investor caution towards B2C models is evident, with Monarch and a few others bucking the trend. Monarch’s growth and engagement metrics are impressive in the challenging financial planning market.



Read more at CNBC: Personal finance app Monarch raises $75 million