Trim is a San Francisco-based personal-finance chatbot that enables two-way communication with users via text messages or Facebook Messenger without requiring an app. Users can view expenses for the past 30 days, receive customized notifications about unusual spending and bank fees across all accounts, set spending alerts, check balances, and cancel subscriptions with a text. Trim can also contact the relevant biller to cancel a subscription on a user's behalf. The company was co-founded by Thomas Smyth (CEO) and Daniel Petkevich. In its first seven months of operation Trim says it saved users more than $6m by cancelling unwanted subscriptions. The company has raised $2.2M in seed funding, according to the article. Trim scans users' bank account activity to locate recurring monthly charges and offers to cancel them on users' behalf. Users sign up on the company's website, providing bank account username and password plus a phone number; Trim then text-messages a list of recurring charges and accepts a "cancel" reply to terminate a subscription. The company says it checks back three months and in one test found all same-time monthly memberships while mistakenly including one non-recurring charge. Trim routes credentials through Intuit or Plaid so credentials never touch its servers and the bank or credit-card provider returns an encrypted token. The idea grew from the founders' own review of credit card bills; the company's co-founders are CEO Thomas Smyth and COO Daniel Petkevich. The company has raised $100,000 in angel funding from a group of investors including Yee Lee, Peter Christodoulo, Arjan Schutte, and Kathleen Utecht.

Total raised

$2M

Funding rounds

2

Latest round

Seed

Latest activity

Jul 2016