Personal finance app operator Copilot announced that it has successfully raised $6 million in a Series A funding round anchored by venture capital firm Adjacent.
The round is aimed at expanding the app’s reach across all platforms and bolstering its artificial intelligence and product development initiatives.
Founded in 2020 by former Google engineer Andres Ugarte, Copilot emerged from a desire to create a smarter, more private, and user-friendly tool for managing personal finances.
Distinct from its competitors for its ad-free experience and focus on user satisfaction, the app has grown its subscriber base to over 100,000 users, attributing its success to a dedicated team and the strong commitment to quality.
“Our journey began with a simple idea, fueled by frustration with existing financial management tools. Today, we stand as a testament to what patience and dedication can achieve,” said Ugarte.
The app’s growth has been especially notable in the past four months, signaling a rapidly expanding user base and a promising future.
This new infusion of funds will enable Copilot to accelerate the development of its web and Android versions, ensuring the app’s availability to a wider audience.
Moreover, the company plans to double down on its investment in AI to enhance user experience through personalized spending categorization and other innovative features.
The Series A funding round not only attracted capital from Adjacent but also garnered support from a distinguished group of operators and startup founders, including Scott Belsky (Adobe), Mathilde Collin (Front), and many others, showcasing broad industry confidence in Copilot’s vision.
As Copilot continues to evolve, Ugarte emphasizes the importance of user feedback and engagement in shaping the future of money management. With new career opportunities opening in New York City and Santiago, Copilot is inviting talented individuals to join its mission to empower users to take control of their finances with confidence and ease, according to the announcement.