Monarch raises $75 million in Series B

Monarch, a San Francisco-based personal finance startup, has raised $75 million in a Series B funding round. The round was led by FPV Ventures, with participation from Forerunner Ventures, Menlo Ventures, Accel, SignalFire, and Clocktower Ventures. This funding brings the company’s valuation to $850 million. Founded in 2018, Monarch aims to simplify personal finance management for American families. The app connects to various financial institutions, displaying all finances in one place. It provides visual representations of net worth, cash flow, and budget progress, while also offering tools to track progress against financial goals. Monarch’s co-founder and CEO, Val Agostino, emphasized the importance of financial well-being for everyone, not just the wealthy. “Managing your money is one of the big unsolved problems in consumer technology,” Agostino said in a recent Zoom interview. “How American families manage their money is still basically the same as it was in the late 90s, except today we do it on our phones instead of walking into a bank.” Unlike its predecessor Mint, which was free and relied on advertising, Monarch operates on a subscription-based model. This allows the company to focus on providing a comprehensive financial planning tool without the need for ads or selling user data.

Monarch secures major Series B funding

The company saw a significant surge in its subscriber base after Intuit announced the closure of Mint in early 2024. Monarch’s user base grew by 20 times in the year following the announcement. Chan, co-founder of FPV Ventures, compared Monarch to his previous successful investments, such as Canva. “What Val is doing, it’s the successor to anything that’s been done in financial planning,” Chan said. “It’s frictionless, it’s easy to use and it’s easy to share, which is something that never existed before. That’s why he’s growing so quickly, and why the engagement numbers are so high.” Monarch’s successful funding round comes amidst a challenging period for U.S. consumer fintech startups. The sector raised only $1.9 billion in venture funding in the first quarter of 2025, a 38% decline from the previous quarter. Despite this, Monarch has managed to secure one of the largest Series B rounds for a consumer fintech startup this year. With the new funding, Monarch plans to expand its team and enhance its platform’s capabilities. The company remains committed to its mission of improving financial situations for users by providing the right information, tools, and guidance.