Personal finance startup Truebill announced today that it has raised $15 million in Series B funding. The new funding was led by Eldridge Industries, with participation from Evolution VC and previous investors, including Cota Capital, Lucas Venture Group and YouTube co-founder Jawed Karim. When the Y Combinator-backed startup raised seed funding back in 2016, it was focused on what Chief Revenue Officer Yahya Mokhtarzada now describes as “a single function” — helping users track all their subscriptions and recurring expenses, and then to cancel them when desired. Mokhtarzada said the Truebill team subsequently saw an opportunity, given “the increasing degree of financial complexity in people’s lives,” to take “a more holistic view of personal finance.” Truebill still offers subscription tracking, and Mokhtarzada said that’s usually what brings new users in. But it’s also added capabilities like automated budgeting, automated saving and bill negotiation. And this fall, it plans to launch additional features, including bill pay, credit score monitoring and a rewards program.
Truebill lands $5 million to help people manage their money
Keeping control of your finances can mean the difference between being able to afford that daily avocado toast and struggling to pay rent. Millennials already have a wide range of financial pressures to deal with, so anything that can help them stay on top of their budget is welcome. An app that helps people manage their finances, Truebill today announced that it has raised $5 million in Series A funding and has launched new “Smart Savings” capabilities.