HelloWallet, Goodbye Mint

HelloWallet is a personal finance platform competing with Mint and raised $12M in Series B funding from Morningstar. Previously, raising $9 in Series A funding from Grotech Ventures and AOL co-founder Steve Case’s VC fund Revolution Ventures.

Let’s compare new and improved features of HelloWallet to the well-respected and widely accepted features of Mint. Mint successfully hooks it’s users by calculating budgets and alerting it’s users when they almost exceeds their budgets. Users can spend hours toggling between budget options – Do I put 10% of my paycheck into savings or 15%? HelloWallet, on the other hand, aims to be a full-service financial advisor with a mission to discover saving opportunities and potential threats for its members. Similar to Mint, HelloWalletis provides a similar budget feature, but with a “big hairy audacious goal”  that might eliminate the need for a financial planner all together. 

The company lanched in mid-2011 and has already sold more than 300,000 subscriptions since it launced.  The average member inceased their monthly savings contribution by more than 80% and about $350 in extra savings per person every month – Watch out Mint, HelloWallet.

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