Rocket Money

Personal finance management mobile application

Los Angeles, California, United States

About Rocket Money

Rocket Money helps individuals manage their personal finances through a mobile application that offers various tools for financial management. Users can access services like bill negotiation, subscription management, budgeting, credit score monitoring, and smart savings, all aimed at helping them save money and track their spending. Unlike many competitors, Rocket Money focuses on a member-centric approach, maintaining communication with users to tailor services to their needs. The company generates revenue through subscription fees and a percentage of savings from negotiated bills. The goal of Rocket Money is to empower people to achieve their financial goals while ensuring data security through advanced encryption.

Los Angeles, CaliforniaHeadquarters
2015Year Founded
$437.7KTotal Funding
SEEDCompany Stage
Fintech, Financial ServicesIndustries
201-500Employees

Benefits

Health, dental, & vision coverage
Unlimited PTO
Competitive pay
Daily catered lunch
401k matching
Commuter benefits
Unlimited snacks & kombucha on tap
Life insurance

Risks

Increased competition could erode Rocket Money's market share in subscription management.
Credit card launch exposes Rocket Money to potential credit risk and regulatory scrutiny.
Economic downturns may reduce demand for premium financial services, affecting revenue.

Differentiation

Rocket Money offers a comprehensive suite of financial management tools in one app.
The platform's bill negotiation service provides unique savings opportunities for users.
Rocket Money's focus on data security sets it apart in the fintech industry.

Upsides

High app store ranking indicates strong user engagement and growth potential.
Positive reception of new credit card suggests expansion opportunities in credit services.
Growing demand for digital financial management boosts Rocket Money's market potential.

Funding

Total raised$437.7 K
Latest valuation$1.75 M
StageSEED
SEED
2/29/2016
N/A
$1.75 M
ANGEL
9/30/2014
N/A
$500.0 K