Truebill raises $5M, expands into savings, money management
Truebill announced new funding on Tuesday. It has raised $5 million in Series A funding from investors that include Cota Capital, Social Capital, Day One Ventures, Cross Culture VC, and others.
Truebill, whose namesake app helps consumers obtain automatic refunds for unwanted subscriptions and bank fees, is launching an automated savings feature that it says is a new twist on the idea. Truebill is designed to give consumers more oversight of the process. Customers can set several different savings goals, deciding how much they want to set aside, the frequency and the time period. They can also build in safeguards such as a minimum level for their checking account, under which the app would pause any withdrawals.