FinTech News
Personal Finance Budgeting App Monarch Raises $75 Million
A growing personal finance platform has closed a new round of funding.
About Monarch’s Funding Round:
Recently, Monarch Money announced that it raised $75 million. The Series B was co-led by FPV Ventures and Forerunner Ventures, with participation from existing investors Menlo Ventures, Accel, SignalFire, and Clocktower Ventures. To date, the company has raised a total of $94.8 million, including a $15 million Series A in 2022. According to the company, this funding will enable it to grow its team and expand its platform overall.
About Monarch Money:
Monarch is a financial tool that allows users to track their spending, create a budget, work toward savings goals, and more. To start, customers can link their various accounts, allowing users to view all of their financial info in one place. Recently, the app was recognized as part of the 2025 FinTech Breakthrough Awards, with Monarch being named Best Personal Finance Platform.
Currently, a subscription to Monarch is $14.99 a month or $99.98 per year (paid upfront). However, members are able to invite members of their household as part of a single subscription.
What They’re Saying:
In a blog post about the funding raise, Monarch co-founder and CEO Val Agostino spoke to the impetus for the app, writing, “We started Monarch six years ago with a clear but ambitious mission to solve this problem for all households, not just the wealthy. We strongly believe that everyone — no matter where they’re starting — can improve their financial situation with the right information, tools, and guidance.”
Commenting on the new investment itself, Agostino said, “We are just getting started and have big plans for evolving the Monarch platform on the journey toward unlocking financial wellness for all households. This financing will dramatically accelerate that vision.”
My Thoughts:
With the closure of Mint, there are plenty of apps vying to fill the void. With that, Monarch is among the apps I’ve seen most pitched as a replacement. Because of that, I actually recently signed up for Monarch so that I can give it a full review (so watch out for that down the line).
I have to imagine that the death of Mint did play a role in Monarch’s ability to raise this impressive round as well. Going forward, I’m very interested to see how the company can expand and what route it ends up taking (IPO? Acquisition?). Basically, with this latest round, Monarch Money is near the top of my watch list.
P.S. – If you’re interested in trying Monarch, you can save 50% off your first year using my referral link.
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