Now that Intuit is discontinuing its personal finance app Mint in January, some startups say they are already seeing a bump in new customers.
One of these is Monarch Money, a subscription-based money manager app co-founded by Val Agostino, Jon Sutherland and Ozzie Osman, with the goal of helping customers create financial goals and a path to achieve them. My colleague Mary Ann Azevedo reported on the company in 2021 when Monarch raised $4.8 million in seed funding.
Osman said via email that “since the news broke we’re getting twice the number of users and it’s all coming from this.” The app’s Google Play store page shows over 10,000 downloads lifetime, however Osman declined to get more specific on the exact number.
He did respond that Nov. 1 “was our biggest day in terms of new users since we launched the app” in January 2021. That included the time when it moved from waitlist to public and following assorted announcements.
In a blog post following Intuit’s news, Monarch’s CEO Agostino called the moment “bittersweet.” That’s because there’s some history there: Agostino was the first product manager on the original team that built Mint. He headed up the product team through the acquisition by Intuit that closed in 2010.
Then Intuit purchased Credit Karma in 2020. Agostino noted in his blog that Credit Karma “has an estimated user base of 130 million U.S. users,” larger than Mint’s 3.6 million monthly active users reported in 2021, according to…
