HelloWallet is a personal finance software platform that helps users track and proactively manage their finances via web and mobile. It aims to act as a full-service financial advisor that uncovers savings opportunities and potential threats for members while refusing to allow banks to advertise on the service. The platform supports goal-setting for milestones like buying a home, saving for retirement, reducing debt, and saving for college, modeling tuition for nearly every U.S. college to make individualized education-savings recommendations. Since launching its enterprise application in mid-2011, the company has sold more than 300,000 subscriptions. Its personalized guidance has reportedly increased average members’ monthly savings contributions by over 80%, translating to roughly $350 in additional savings per member each month. HelloWallet plans to use new funding to further product development, expand its business development team, and grow its client base. HelloWallet provides personal finance software that helps users track and proactively manage their finances and set specific short- and long-term goals. The service aims to act as a full-service financial advisor, uncovering savings opportunities and potential threats while refusing bank advertising to keep recommendations free of business interests. HelloWallet stores tuition information for nearly every college and university across the country and uses that data to make individualized education-savings recommendations. The company partners with organizations such as Ernst & Young to provide its online advisory and currently reaches more than 3.5 million people. HelloWallet launched in March and charges around $5 per month; it also pledges to give a free subscription to one needy family for every five paying members. The startup plans to use its new funding to further product development and build out its business development team.

Total raised

$16M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2012