Moneytree offers a mobile and desktop app that lets users aggregate and manage bank accounts, credit cards, electronic money, mileage, points, and securities in one place. Led by CEO Paul Chapman, the company also operates Moneytree LINK, a permission-based data-sharing platform launched in 2015 that connects financial institutions and customers. Moneytree LINK is used to create value across accounting, finance, real estate rent management, automobile maintenance, expense settlements, invoice issuance, and asset management. The company completed a $9M Series B to support product development and platform capabilities. Proceeds will be used to add functionality to the app, deepen Moneytree LINK’s capabilities, expand into the Australian market within months, and increase headcount across development, platform, sales, marketing, and back-office functions. Moneytree is a personal finance app launched in April 2013 that aggregates financial data and automatically categorizes transactions using machine-learning. The app has been downloaded over 200,000 times and had aggregated more than 15 million transactions; it planned to support data from over 1,000 financial institutions by 2014. Core features include real-time tracking of cash spending, income and credit-card usage, advance notifications of credit liabilities, and a focus on helping users understand their financial behavior rather than traditional budgeting. The company uses Amazon Web Services for scalability and protects customer login details with 256-bit SSL encryption. Product roadmap includes an iPad version, a responsive web app, U.S. expansion in 2014 with U.S.-specific features (fraud alerts), and an enterprise market-analytics service to sell consumer financial insights. Moneytree was founded by CEO Paul Chapman and co-founders Mark Markdad and Ross Sharrott and leverages an experienced advisory board with former PayPal, MasterCard and banking executives.

Total raised

$11M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2017