Today, Monarch announced it has raised an impressive $75 million to accelerate its app’s subscriber growth.
The San Francisco startup has managed to reach a value of $850 million thanks to its fundraising efforts, despite fintech startups suffering significantly raising funds during the current market turbulence.
Monarch’s co-founder Val Agostino stated, “Managing your money is one of the big unsolved problems in consumer technology. How American families manage their money is still basically the same as it was in the late 90s, except today we do it on our phones instead of walking into a bank.”
According to Agostino, Monarch’s greatest asset is that the budgeting app relies on paying subscribers so that the company doesn’t need to focus on advertising or selling users’ data.
Agostino founded the company in 2018 following her time working as project manager at Monarch’s rival, Mint.
By CEO NA Editorial Staff
