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Truebill Raises Series C & Expands Offering to Improve Financial Health

November 12, 2020

Truebill was born with a simple goal—to make it simple to track and manage subscriptions and bills. At the time, we were building the product for ourselves as much as we were for others; after all, who wouldn’t want a tool that helps you avoid wasting money?

It wasn’t until we began hearing from our customers that we really woke up to the scale of the challenge ahead of us. We realized, it’s not just that managing subscriptions is hard, it’s that managing money is hard.

And so Truebill’s mission expanded. We set a goal and wrote it on the wall: to meaningfully improve the financial health of millions of people.

Today, over a million people have used Truebill and we’ve helped them save over $100 million. We’re incredibly proud of the impact Truebill has had on so many people’s financial lives,  and we realize there is much more to do.

It’s no secret that 2020 brought many challenges. With 90 percent of Americans stressed about finances, we feel that now more than ever is the time to really double down on making a positive impact.

To that end, we’ve recently closed a $17 million Series C led by Bessemer Venture Partners, with participation from existing investors Eldridge, Cota Capital, Firebolt Ventures, and Day One Ventures, which brings the total raised to $40 million.

This new funding will enable us to continue developing new products, with a few on the horizon I can share with you today:

Net worth tracking that helps you grow

Truebill users today enjoy a unique view of their subscriptions and spending they can’t get anywhere else. We’ll extend this view to net worth tracking next, enabling users to visualize their debt and assets with customized recommendations to improve their financial health.

The smartest place to save

Our Smart Savings feature will better guide customers through key savings milestones to ensure they have money set aside for an emergency and a three-month safety net, the hallmarks of financial health. We’ll also enable customers to better understand ways that they can increase their savings by adjusting their spending habits, and reward them with bonuses along the way.

A better way to tackle debt

The hardest part about tackling debt is maintaining a consistent approach over time. We’ll be working on a debt-payoff product that automates the process of paying down debt in a way that is most optimal for your unique financial position.

Shared accounts

Managing finances with a significant other will be easier than ever with the ability to share budgets, spending and savings plans with a partner. A shared membership will be available to premium members at no additional cost.

We’re proud to have built a product that our customers love and benefit from and are excited about making an even greater impact over time. Now more than ever, we think it’s important to really understand what “financial health” really means and to judge ourselves by our ability to move the needle. That means not only being able to give our customers full visibility into their money, but also the tools they need to improve their financial outlook over time.  

We want to say a big Thank You to everyone who has supported us thus far on our journey, and we hope we can continue to serve you on your journey towards financial wellness.

Haroon Mokhtarzada
CEO, Truebill

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