Nine out of ten Americans say nothing would make them feel more confident than being on top of their finances. Monarch helps people achieve that goal. 96% of Monarchs subscribers say the product helps them feel “extremely” or “super” confident about their finances.
At Monarch, we believe the right financial tools can help build peace of mind, establish healthy financial habits, build confidence, achieve goals—and even improve relationships.
Monarch lets users connect their financial institutions, see their current and historical cash flow and balances, as well as answer questions about their financial goals and get advice and a plan to achieve their goals. It is a non-trivial problem to put together a full picture of someone’s finances and combine it with their goals in a way that’s simple and flexible.
The product is subscription-based (~$15 / month or $100 / year), which helps us align ourselves with our users’ incentives. Many competitors are free, but make money by showing ads for financial products that may not be great for users and/or sell data. We focus purely on building a product that users will get value out of and want to pay for. We care a lot about alignment: see this piece from our co-founder and Head of Engineering.
We launched in December 2020. Users love the product (see these quotes and our 4.9/5 App Store Rating with >60K reviews), but we’re only scratching the surface of this problem!
You can try out the app in demo mode by heading to: https://app.monarchmoney.com
Username: [email protected]
Password: 5e44ed15 (add a 9 at the beginning and the letter a at the end of that to get it to work)
The Monarch team is composed of about 100 people, many of us startup veterans with product, design, engineering, and finance experience at some of the best technology companies in the world (the engineering team is a little less than half the company). We are proud to have put together a top-notch team: high-performing, experienced, passionate, and collaborative. You can see our full team here.
Our founding team consists of experienced entrepreneurs who have built and sold multiple companies (to Cisco, Groupon, and Quora). Our engineering team includes experienced engineers that have worked at places like Quora, Google, Facebook, DoorDash, Cruise, and Apple.
We’re fully-distributed and have been that way since our founding. We have people all around the US as well as in Brazil, Portugal, Germany and Egypt.
We’re a Series B-funded company (backed by top-tier investors like Accel, SignalFire, and Menlo Ventures) and have raised over $95M (that said, we were cash-flow positive in 2024). We expect growth both in the size of the team and in our revenue / user base. We are currently cash-flow positive and proud of that milestone, but if needed, we have the ability to raise further capital.
Here is a chart of our growth in recurring revenue over time (numbers withheld but feel free to ask). The inflection point is when Mint.com announced they were being sunset: