Truebill offers a suite of personal finance tools that let U.S. users track all subscriptions, cancel unwanted services, and negotiate phone and cable discounts. The app provides spending insights, budgeting tools, credit-report viewing, and automatic savings by analyzing users' accounts. Truebill is expanding toward a wealth management dashboard intended to centralize assets and debt for a full financial picture. The company says more than 10,000 members sign up daily and that its user base doubled from 1 million to 2 million since November 2020. Truebill analyzes $40 billion in monthly transaction volume. Financially, the company has raised $85 million to date, including a recent Series C and the current Series D. Truebill provides a suite of personal finance tools including subscription tracking and cancellation, expense reporting, bill negotiation, and an automated smart savings feature. The company has expanded beyond subscriptions to offer broader financial-product functionality and predictive data models. During the pandemic it leaned into TV advertising as a key user-acquisition channel and saw smart savings adoption reach an all-time high. Truebill says it will invest heavily in data science to anticipate cash-flow shortfalls and improve users' financial health. The company plans to build new features such as net worth tracking, automated debt payments, and shared accounts. As of this round, Truebill has raised a total of $40 million. Truebill began as a subscription-tracking tool and has expanded into a broader personal-finance platform offering subscription tracking, automated budgeting, automated saving, and bill negotiation. The company reports 500,000 active users and operates a freemium model: a free basic product, optional pay-what-you-want premium features, and a cut of savings from negotiated bills. Truebill was Y Combinator-backed and raised seed funding in 2016. It recently opened headquarters in Silver Spring, Maryland while maintaining an office in San Francisco. This fall the company plans to launch additional features including bill pay, credit score monitoring, and a rewards program. Management says the goal is to consolidate multiple single-point financial tools into one comprehensive offering. Truebill began as a mobile app that helped users receive refunds for unwanted subscriptions and has evolved into a broader financial dashboard offering subscription cancellation, bill negotiation, and outage refunds. The company recently launched Smart Savings, which automatically withdraws funds toward goals like vacations or home purchases, and offers Automated Outage Credits to claim refunds for monthly service outages. Haroon Mokhtarzada was recently named CEO; he co-founded Truebill with his brothers Yahya and Idris Mokhtarzada. Truebill raised $5 million in a Series A funding round. The company says it plans to tackle the $20 billion-per-year late-fee problem by releasing an intuitive, intelligent bill-pay solution in the coming months. Truebill examines users' bank and credit card statements to identify recurring subscriptions and offers one-click cancellation when a subscription is unwanted. Users do not need to remember login credentials; Truebill asks for necessary details such as email and billing address and can generate certified letters for cases that require them, such as some gyms. Since launching out of beta in February, more than 10,000 people have signed up and the service has helped cancel over $300,000 worth of annual subscriptions. Founder and CEO Yahya Mokhtarzada says the company takes a positive view of subscriptions and aims to reduce friction around both signup and cancellation. Mokhtarzada plans to expand Truebill into a full subscription-management platform that can notify users when a subscription needs attention. The product is positioned to simplify consumer subscription management as more businesses move to subscription models.

Total raised

$82M

Funding rounds

5

Latest round

Series D

Latest activity

Jun 2021