Personal finance site nabs $12 million from Benchmark
Six-month-old Mint, which helps people save money on their bills, gets some help of its own from high-flying venture capitalist Benchmark.
Mint, a personal finance site akin to Quicken, said Wednesday that it raised $12 million in a series "B" round of financing led by Benchmark Capital, the venerable VC behind eBay and Amazon.com.
Other participating investors include Shasta Ventures, First Round Capital and Felicis Ventures--which were all original backers of Mint.
Benchmark's endorsement is sizeable given that Mint launched less than six months ago. In that time, Mint has signed up more than 160,000 customers for its free personal finance services, according to the company. Mountain View, Calif.-based Mint helps people manage their credit and spending, points out potential savings on monthly bills, and offers people support for investment accounts.
Benchmark general partner Bob Kagle will join Mint's board. "We are excited about the company's ability to help people make better financial decisions and improve their lives."
Mint founder and CEO Aaron Patzer said he plans to use the funds to expand Mint's product offerings, but did not specify how. "We're ready to further accelerate our growth and product development," Patzer said in a statement.