FinTech News
Truebill App Rebrands to Rocket Money
In recent years, one of the most talked about personal finance apps has been Truebill. Founded in 2015, the platform has since helped users save a reported $250 million — including $150 million this year. Now, Truebill is changing its name and will continue on as Rocket Money.
This name change comes following Rocket Companies’ acquisition of Truebill in December 2021. The purchase cost Rocket $1.275 billion in cash. When the deal was announced, Rocket Companies CEO Jay Farner said of the platform, “We are very impressed with what Truebill has created – providing a simple, intuitive client experience to help its users save significant money. The company is a perfect fit for the Rocket platform. Truebill’s work helping Americans keep track of their finances and providing guidance that leads to better financial outcomes follows the same philosophy as Rocket Companies – leveraging the power of technology to remove the friction from complex transactions – and applies it to everyday life.”
Rocket Money will continue to offer users a suite of money management tools. This includes spending insights, credit monitoring, bill negotiation, automated savings, and more. While the app itself is free, a Premium version as well as other optional paid services are also available. Among the more recent offerings from what was Truebill are a net worth tracker as well as a web version of the platform, allowing those who prefer desktop computers over mobile devices to access their financial info.
In a blog post announcing the rebranding, Truebill CEO Haroon Mokhtarzada wrote, “As part of the Rocket platform, Rocket Money will seamlessly deliver the information, services, and products our members need along all stages of their financial journey.”
Mokhtarzada continued, “Far beyond expense tracking and subscription cancellation, we’ll be better equipped to support you across more areas of your finances, whether that be helping you save, gaining access to credit, buying a home, and more. We’ll seamlessly integrate the financial products and insights you need when you want them, all through the app you already know.”
On the one hand, changing the name of the app to Rocket Money makes sense given the app’s new parent company and its suite of services. However, the “Truebill” name has certainly been making the rounds as the platform has grown — not to mention their various ad campaigns in recent months. Of course, the app does have one advantage as those who are already using the service should have a seamless transition to Rocket Money, hopefully leading to little resistance. Will the new Rocket Money continue its upwards trajectory? We’ll have to wait and see.
