Personal finance app Monarch has secured a significant $75 million investment to fuel subscriber growth despite the “nuclear winter” for fintech startups. The San Francisco-based company, valued at $850 million, aims to provide an all-in-one mobile app for tracking spending, investments, and money goals.
The funding round, led by Forerunner Ventures and FPV Ventures, comes as the fintech sector faces increased caution from investors. However, Monarch’s co-founder Val Agostino believes the company is tackling a difficult market with a fresh approach, making it easier to use and share financial planning tools.
Monarch’s subscriber base surged 20 times in the year following Mint’s shutdown in early 2024, as users sought alternatives to the now-defunct budgeting tool. Unlike Mint, which relied on advertising revenue, Monarch generates income through paid subscriptions, reducing its reliance on credit-card issuers and user data sales.
The funding is a notable exception among American consumer fintech startups, which have seen venture capital investments decline by 38% in the first quarter compared to the fourth quarter of last year. However, Monarch’s co-founder Wesley Chan remains optimistic about the sector’s prospects, saying that his company is creating a new standard for financial planning tools.
“The sector is still in nuclear winter,” Chan acknowledged, “but I love nuclear-winter sectors.” With this investment, Monarch is poised to accelerate its growth and become a leader in the fintech industry.
Source: https://www.cnbc.com/2025/05/23/personal-finance-app-monarch-raises-75-million.html