Personal finance startup Truebill raises $17M
Truebill, a startup offering a variety of tools to help users take control of their finances, announced today that it has raised $17 million in Series C funding.
When I first wrote about the startup in 2016, it was focused on helping users track and cancel unwanted subscriptions. Since then, it’s expanded into other financial products, like reports on your personal expenses and the ability to negotiate lower bills.
This week, Chief Revenue Officer Yahya Mokhtarzada told me that with the pandemic leading to a dramatic reduction in ad costs, Truebill was able to make TV advertising a key channel for reaching new users.
And of course, the financial uncertainty has made the product more appealing too — particularly its smart savings tool, where users can automatically set aside money for their goals.
“People became aware of the need to have some cushion,” Mokhtarzada said. “You should start saving when things are going well, before you need it, but [saving during the pandemic] is better than not doing it at all. We’ve seen a big bump in smart savings adoption, which is at an all-time high.”
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Image Credits: Truebill