Mint rakes in 4.7 million in an A round

Mint, whom we had profiled earlier, has raised $4.7 million A round from Shasta Ventures, First Round Capital, and several Angels, according to Techcrunch.

Mint is a financial management company. As we had noted before, it enters a field, that is extremely crowded, and has been for a while, following the likes of Yodlee, CashEdge, MSNMoney and a host of other financial aggregators.

By and large, Mint offers similar features, the ability to aggregate financial accounts in one place, track spending, view balances, set alerts etc. The Mint site also mentions the ability to “Stop overpaying and start saving”. This has to do with side by side comparison of bank and credit card transactions, making to easier to spot any errors and to reconcile the two.

Mint’s real test will be to see how it can differentiate itself in the financial aggregation field, which is populated by several heavyweights including companies that have tried offering the service through the banks such as Wells Fargo, Citibank etc. as well as direct to consumer offerings such as Yodlee has. No doubt with the amount of money raised and the backing or prominent investors like Ram Shriram, they will have all the support they need to make a go of it.


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VaultStreet : Financial document management company gets funding

vaultstreet logo

VaultStreet, a Santa Monica startup has received a seed round of angel funding. VaultStreet is a secure one stop shop for financial document management. It also allows users to coordinate with their financial planners and accountants.

The site is expected to launch in late 2007.

financial account aggregation

We have previously written about the long, and sometimes less than glorious history of financial aggregation. These are services that allow you to add all your financial and related accounts at financial institutions - banks, brokerages, and even airline frequent flyer accounts, and view your net worth, spending habits, outstanding bills etc in one place. VaultStreet seems to have a somewhat different spin in that it allows not only the aggregation, but also adds a communication layer.

The company has made $1.8M in revenue in one year, and plans to partner with financial service providers. Yodlee, a company in this space, has partnerships with brokerages and banking institutions and also has a direct-to-consumer interface.


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