Monarch announced it has raised $75 million in Series B funding. This funding round was co-led Wesley Chan at FPV Ventures and Eurie Kim at Forerunner Ventures. And existing investors include Menlo Ventures, Accel, SignalFire, and Clocktower Ventures also joined.
Financial health is known as one of the biggest societal challenges today. And studies have shown that finances are the single largest source of household stress, which is one of the primary causes of divorce, and a leading cause of mental health issues such as depression and anxiety.
Monarch co-founder and CEO Val Agostino said that it does not have to be this way and the company was launched six years ago with a clear but ambitious mission to solve this problem for all households, not just the wealthy.
The company helps members with the following:
1.) See all of their finances in one place by connecting to the widest range of financial institutions in the market
2.) See what is happening with beautiful graphs of net worth, cash flow, and budget progress over time
3.) Plan for their future with the ability to track progress against financial goals
4.) Stay on the same page with features that enables partners, spouses, or financial professionals to collaborate together on their financial progress
5.) Get personalized financial advice with Monarch’s advisor feature
Monarch is now the fastest growing personal finance platform. And this financing will dramatically accelerate that vision. The company will be rapidly growing the team and expanding the breadth of the Monarch platform.
KEY QUOTES:
“We strongly believe that everyone – no matter where they’re starting – can improve their financial situation with the right information, tools, and guidance.”
We’ve been hard at work making this a reality. Today, Monarch is the most robust personal finance platform for consumers.
Monarch co-founder and CEO Val Agostino
