Following the announcement of Mint's closure, Copilot experienced its "biggest day ever" and has continued to grow, leading to a $6 million Series A funding round led by Nico Wittenborn’s Adjacent. The company, which reached profitability in 2023, plans to use the new capital to develop an Android app and accelerate AI and product development efforts. The aim is to launch the new capabilities by the end of the year.
Key takeaways:
- Intuit is shutting down its budgeting app Mint, which has led to a surge in users for competitor Copilot, a subscription-based personal finance tracker.
- Copilot, founded by Andres Ugarte in January 2020, now has over 100,000 subscribers, with many using the app daily. The app helps users save an average of 5% after starting with it.
- Following the announcement of Mint's shutdown, Copilot experienced its "biggest day ever" and has continued to grow, leading to a $6 million Series A funding round led by Nico Wittenborn’s Adjacent.
- Copilot, which has been an iOS app since its launch, plans to use the new capital to build Android and web capabilities, accelerate AI and product development efforts, and aim to launch new capabilities by the end of the year.