10 budgeting apps for better financial health

10 budgeting apps for better financial health

Approaching the end of 2022, it’s fair to say this year was a challenging one—rife with a continuation of recent years’ economic trends as well as the introduction of new, unique difficulties. Communities around the globe are faced with the impacts of hiring freezes, market uncertainty, supply chain issues and inflation.

On an individual level, these factors and others mean that managing one’s personal finances may look significantly different than it did a year ago—or last week. Budgeting apps provide a way for people to create and stick to budgets, track and adjust spending and, more generally, overhaul their individual approaches to personal finance.

A variety of venture capital-backed budgeting apps have come online in recent years, including the ten we highlight below.

What are budgeting apps?

Budgeting apps, also at times referred to as personal finance apps or finance management platforms, are applications that are either completely dedicated to or have features supporting money management.

These apps can help users accomplish a variety of goals, from bi-weekly budgeting apps designed to track and eliminate unnecessary expenses, to setting aside money for investing or even paying off credit and eliminating debt. To achieve this, budgeting apps integrate a variety of technologies, such as machine learning and cloud-based data to compile information, generate insights on users and automatically direct them towards a personalized plan.

Top budgeting app developers

The following are notable budgeting app companies, considered for either a unique technology, use case or their traction among VC investors. All data included below was sourced from the PitchBook Platform and accurate as of December 5, 2022. Data is subject to change frequently.


Year founded: 2010

HQ: Mountain View, CA

Leadership: Aaron Patzer, co-founder

VC raised to date: $31.7 million

Mint.com is a free budgeting service owned by Intuit. It allows users to track multiple bank accounts and credit cards, receive detailed cash flow analytics and access features like bill negotiation. Mint also provides its users with a variety of tools and calculators which help manage recurring expenses like rent and student loans, as well as major events like vacations or weddings.


Year founded: 2018

HQ: Walnut, CA

Leadership: Val Agostino, co-founder and CEO

VC raised to date: $20.5 million

Monarch is a personal finance platform that aggregates bank accounts, transaction data and credit cards to create a user profile. The app then uses this information to create a personalized budgeting plan to inform financial decisions and help users approach objectives such as saving for retirement, investing or home ownership. Monarch also provides features like net worth tracking through synced accounts, cash flow tracking and the ability to link the profiles of other members of your household to view joint finances.

You Need a Budget

Year founded: 2004

HQ: Lehi, UT

Leadership: Todd Curtis, CEO

VC raised to date: Undisclosed

You Need a Budget (YNAB) is a finance app developed for mobile devices that employs a digital version of the envelope method as the basis of their recommended budgeting strategy. YNAB pairs personal finance features with substantial educational resources segmented by the specific goal a user hopes to achieve with their budgeting. You Need a Budget also offers recommendations tailored to both individuals and families, with an emphasis on escaping debt and building savings.


Year founded: 2019

HQ: New York, NY

Leadership: Andrés Ugarte, founder and CEO

VC raised to date: Undisclosed

Copilot is a budgeting app that uses transaction data and machine learning to create personalized plans for its users. By using these technologies, the app is able to process and apply data flexibly, creating custom categories and logic that adapt to a user’s objectives and changes in spending. Copilot is also designed to cut down on manual entry, with the ability to automatically detect and log recurring expenses like bills and subscriptions, aggregate data from different asset classes such as ETFs and crypto and offer insights into both saving and investing.


Year founded: 2010

HQ: New York, NY

Leadership: Sarah Levy, CEO

VC raised to date: $435 million

Betterment offers financial services and recommendations with a primary emphasis on investing. They specialize in guided investing and retirement planning for all types of budgets and supply clients with a diversified portfolio that includes asset types like ETFs and crypto. Betterment offers tailored recommendations for user segments such as students and retirees, and supports a variety of specialized investment strategies such as socially responsible investing, crypto and tax-smart investing.


Year founded: 2015

HQ: Copenhagen, Denmark

Leadership: Jeppe Rindom, co-founder and CEO

VC raised to date: $428.2 million

Pleo develops an app-based solution designed to streamline the expensing process for individuals and businesses. Through a combination of their mobile app and proprietary smart credit cards, they are able to match receipts and automate bookkeeping workflows, creating more spending transparency within organizations. Pleo is also designed to integrate with commonly-used accounting systems and employs quality of life features like automatic email receipt retrieval, affiliate discounts and milleage calculators.


Year founded: 2007

HQ: Palo Alto, CA

Leadership: Jamie Coffey, president and co-CEO

VC raised to date: $274.9 million

Wealthfront provides a personal finance platform that encompasses financial planning, investment management and banking services, as well as specialized options like socially responsible investing and saving plans for college and retirement. They emphasize the importance of diversified, long-term investing across several asset classes and use automation to help users balance their portfolio and eliminate unnecessary risk. Wealthfront primarily works with young members of the workforce and families, providing them with automated financial planning meant to minimize taxes and keep the cost of investing low.


Year founded: 2015

HQ: New York, NY

Leadership: Milind Mehere, co-founder and CEO

VC raised to date: $228.5 million

YieldStreet is a finance management platform that connects users with institutional investing opportunities across multiple asset classes, including art, transportation and real estate. They prioritize private market investments as the basis of a diversified portfolio and offer recommendations for specific types of assets based on a client’s intended portfolio type. Yieldstreet aims to make alternative assets more accessible through low minimums and short lock-up periods, as well as investor resources in the form of educational materials and hands-on support from advisors.


Year founded: 2015

HQ: Beijing, China

Leadership: Shugang Zhang, co-founder and chief executive

VC raised to date: $226.3 million

Huisuanzhang is an accounting company that applies SaaS solutions to address challenges in areas such corporate finance and tax auditing. They are also the developer of a cloud-based budgeting app that offers services such as tax planning and bookkeeping. Additionally, their services support small and medium-sized enterprise clients with financial and tax services.


Year founded: 2017
HQ: London, England
Leadership: Aseem Munshi, co-founder and CEO
VC raised to date: $22.8 million

Updraft is a personal finance app designed to help users eliminate debt and pay off their credit. They provide educational resources on making better spending habits and connect clients with opportunities to replace their credit card bills with those of a lower cost. Updraft works with major banks  and lenders in the UK to help their users seek financial options, improve their credit score and understand and address the biggest factors contributing to their debt.

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