Today, we are celebrating the Truebill team as they announce their merger agreement with Rocket Mortgage. It’s a well-deserved milestone for a team that has helped millions of people improve their financial standing and redefined the Personal Financial Management (PFM) category along the way. To Haroon, Idris and Yahya: thank you from the entire Accel family.
We invested in Truebill because we believed it was best positioned to finally do PFM tools the right way. Before Truebill, legacy PFM’s offered their users delayed gratification; they required a lot of upfront work to configure, and ultimately, the payoff from setting up a PFM was hard to quantify and delivered weeks or months later. Truebill flipped this equation on its head. Truebill gives users savings on their first experience, manages the growing complexity of subscription payments, and provides an ongoing financial safety net to protect its community from unwanted expenses.
Truebill’s artisanal focus on product and customer obsession reminded us of the other breakout financial technology stories in the Accel family, such as Venmo, GoFundMe, Monzo, and Public. The team was scrappy and creative in getting the word out: Truebill recruited members with box trucks wrapped in Truebill blue, devised skits with Tiktok influencers, and sponsored dessert with messages in fortune cookies. The best product in the PFM category crossed with creative storytelling proved to be an explosive combination, as Truebill’s membership grew into the millions.
Already, Truebill has saved its members hundreds of millions of dollars and has helped cancel millions of subscriptions. With the added brand strength of Rocket, Truebill will amplify and extend what it can bring to its community.
From all of us at Accel, thank you for letting us be a part of your story, and we’re excited to see what’s ahead.