Monarch, a San Francisco-based personal finance application, has raised US$75 million in a Series B funding round, aimed at advancing its mission to make financial wellness more accessible to a wider audience.

The round was co-led by FPV Ventures and Forerunner Ventures, with continued participation from existing investors Menlo Ventures, Accel, SignalFire, and Clocktower Ventures.

The company plans to use the funds to expand both its team and platform.

Val Agostino, Co-founder and Chief Executive Officer of Monarch Money, said:

“We started Monarch six years ago with a clear but ambitious mission to solve this problem for all households, not just the wealthy. We strongly believe that everyone, no matter where they’re starting, can improve their financial situation with the right information, tools, and guidance.

“We are just getting started and have big plans for evolving the Monarch platform on the journey toward unlocking financial wellness for all households.”

Monarch’s platform provides users with a consolidated view of their personal finances by connecting with a wide range of financial institutions.

This enables users to track their financial position through visual tools that display net worth, cash flow, and budget trends over time.

The platform also helps users monitor their progress towards financial goals.

It facilitates collaboration between partners, spouses, or financial professionals, allowing all parties to stay informed and work together on financial planning.

Additionally, Monarch offers personalised financial advice through its integrated advisor feature.

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