Personal finance app Monarch has secured $75 million in Series B funding, marking one of the year’s largest consumer fintech raises in the U.S., despite a broader investor pullback in the sector.
The round, led by Forerunner Ventures and FPV Ventures, values Monarch at $850 million, co-founder Val Agostino told CNBC. The platform gained rapid momentum following Intuit’s closure of Mint in early 2024, with Monarch’s subscriber base surging 20x as former Mint users sought alternatives.
Founded in 2018, Monarch offers tools for budgeting, investment tracking, and goal-setting, positioning itself as a privacy-focused, paid subscription model—unlike Mint’s ad-based approach.
“Managing money remains one of consumer tech’s unsolved problems,” said Agostino, a former Mint product manager. “We're updating it for the mobile era—without relying on ads or selling user data.”
Investors view Monarch as a standout in a sluggish consumer fintech market. According to PitchBook, overall U.S. fintech funding dropped 38% in Q1 2025, with most capital now flowing into enterprise solutions.
“It’s a nuclear winter for B2C fintechs,” said Wesley Chan, FPV co-founder. “But Monarch has cracked a real problem with a product that’s easy to use and widely shareable—just like Canva did in design.”
The company plans to use the fresh capital to scale operations, enhance product features, and accelerate subscriber acquisition as it solidifies its place in the post-Mint financial planning landscape.
