Monarch, a personal finance platform focused on improving financial health for households, has raised $75m in a Series B funding round.

The round was co-led by FPV Ventures, represented by Wesley Chan, and Forerunner Ventures, led by Eurie Kim. Existing backers Menlo Ventures, Accel, SignalFire, and Clocktower Ventures also took part in the latest raise.

Founded six years ago, Monarch offers consumers a centralised view of their personal finances. The platform allows users to connect to a wide array of financial institutions, track their net worth, manage cash flow and budgets, and plan for long-term financial goals. It also features collaborative tools for couples and financial advisors, alongside a personalised advice function.

The new capital injection will be used to scale the Monarch team and broaden the capabilities of the platform. The company plans to invest heavily in product development as it aims to reach more households and improve access to financial wellness tools across income levels.