Mint.com Raises $14 Million in Series C Funding
Mint.com has announced raising $14 million in a Series C financing round led by DAG Ventures. The company described the financing as "a preemptive round, with new participation from The Founder's Fund, and investment from existing investors Benchmark Capital, Shasta Ventures, First Round Capital, and Sherpalo. Valuation is not being disclosed, but it represents a significant up round."
Mint.com is the leading online personal finance service, now with over 1.4 million registered users. Mint is tracking over $175 billion in transactions, $47 billion in assets and has identified $300 million in potential savings for its users. Specific revenues are undisclosed, but are up 8x year over year.
This round of funding will be applied to expanding Mint's already award-winning team, particularly its engineering staff, to accelerate product upgrades and new partnership launches scheduled for the next 6-12 months.
"To be approached with funding in this climate is acknowledgement of our progress and potential in helping Americans to save and do more with their money," said Aaron Patzer, CEO and founder of Mint.com. "Now that we have a sampling of about 2% of the nation's online households, we can see some interesting economic trends, and are establishing ourselves as a source of close to real-time insights into the US economy."
This latest round brings Mint.com's total funds raised to date to $31 million. The company's Series B was led by Benchmark Capital; Series A was led by Shasta Ventures; and their seed round was led by First Round Capital.
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