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Truebill raises $17m for PFM app

Truebill raises $17m for PFM app

Truebill has raised $17 million in a Series C funding round to help it grow from a subscriptions management tool to a full-blown PFM app.

Bessemer Venture Partners led the round, with participation from existing investors Eldridge, Cota Capital, Firebolt Ventures, and Day One Ventures, bringing the total raised by Truebill to $40 million.

Founded in 2015, Truebill has helped over a million people save more than $100 million through identifying and cancelling unwanted subscriptions, lowering their bills, and getting them refunds on fees and outages.

With the new funding in place, the company is expanding its range, preparing a host of new products, including a net worth tracking feature, a smart savings tool, and a debt payoff product.

Says CEO Haroon Mokhtarzada in a blog: "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."

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