Aaron Patzer had a vision in November 2005. While using Quicken for his own personal finances, he believed it was a tedious process. Patzer then started developing Mint, a Web 2.0 tool that is used for many forms of money management.
Today, Mint is backed by First Round Capital and previous executives of eBay, Google, Charles Schwab, and Reuters. Josh Kopelman became a director at Mint after investing into the company. Kopelman is known as being the founder of Half.com, which eBay bought in June 2000 for $318 million. Mint has raised a total of $5 million in funding so far.
Mint also acts as a financial consultant for its users. Users are given the ability to see what potential savings they would see if they switched from a certain credit card to another one. Other features include chart generation, an alert system, an up-to-date credit card statement with over 3,000 bank and credit card partnerships, and the ability to monitor financial health. Mint’s categorization and proprietary search algorithms are patent-pending.
And as of tonight, Mint has another award to list as an accomplishment: the TechCrunch40 Conference 2007 winner. The personal finance application will take home $50,000 as an award.
