Truebill raises $15 million to drive personal finance advice

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Startup Tech News by Content Engine AI

Truebill, a platform that delivers personal finance guidance, has raised $15 million. This round of funding was led by new investor DBL Partners, and will be used to support the company’s hiring efforts, according to the Truebill blog. Truebill also plans to deploy its technology to other financial institutions.

Truebill’s founders are also offering personal financial advice on their sites.

The Truebill platform integrates with any credit card, bank, or bank checking account, offering contextual financial advice. It does this by analyzing the financial data that its users provide it, along with data from an endless number of other data sources, such as other sites where they check their finances or apps, including those that feature their banking information and spending habits.

The platform analyzes their spending habits and how it affects their credit history and access to credit. If a user is about to default on an upcoming mortgage payment or credit card bill, Truebill will advise them what steps they can take to minimize that risk.

According to the blog post:

“One of the biggest consumers of money with a majority of them being seniors, both children and parents want help managing their finances. But they are often underemployed because they don’t have a healthy outlook on their financial wellness. With the best financial minds in the world, financial advisors sometimes require more than one or two calls from a struggling customer in order to take action, but with Truebill customers’ content directly on Truebill, they get immediate financial advice right from their smartphone, and can get that advice on the topic of their choosing with a dedicated mobile app.”

In the UK, where the company is headquartered, Truebill has already deployed its technology with several major brands, including Barclays, Barclays Bank and Santander, to help customers manage their finances. The company also works with a number of personal finance experts, including MoneyComms and MoneyGram.

Truebill is already a notable company in the UK. Forbes is one of its top three financial startups for 2018 in the US, it has also secured the backing of Twitter co-founder Ev Williams, late-night comedian James Corden, and Motley Fool co-founder and Chief Investment Officer David Gardner.

It has also scored plenty of critical accolades. Three years ago, the company nabbed the award for Startup of the Year at the eWomen’s Forum London for its innovations in personal finance.

The company was founded in 2014 by Daniel Haber, Jonathan Goulder, and Tim Linley.

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