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Monarch Money

“Can a premium subscription PFM app — built on Mint's ashes — become the default financial dashboard and planning layer for mass-affluent American households?”

Founded2018
HQSan Francisco, California, USA
FoundersVal Agostino
Total raised$80.3M+
Latest roundSeries B, May 2025
Valuation$850M post-money (2025)
IndustryFintech / Consumer banking
The story

Founded in 2018 by Mint's first product manager, Monarch Money launched as a premium, subscription-based personal finance management (PFM) app targeting financially engaged consumers who needed more than basic budgeting. The company gained massive tailwind in 2023-2024 when Intuit shut down Mint, driving a reported 20x surge in subscribers and establishing Monarch as the leading PFM replacement. The 2025 Series B at $850M signals a transition from scrappy Mint alternative to the dominant player in the consumer PFM category, with ambitions likely extending toward embedded financial advice and planning tools.

Last 12 months
2025-05
Product timeline
2018
Founded by Val Agostino, former first PM at Mint.com, as a subscription-based personal financial management platform.· pivot
2021
Raised $4.8M seed round led by Accel; platform offering budgeting, goal-setting, and financial planning tools.· banking
2023
Experienced twentyfold subscriber growth following Intuit's announcement to shut down rival Mint.· pivot
2025
Raised $75M Series B co-led by FPV Ventures and Forerunner Ventures at an $850M valuation.· banking
The stack
1 layer disclosed in Monarch Money’s embedded-finance stack
Open banking
PlaidMX
Accounting gap: none