PFM platform planwise recently launched an iPad app; its first move into the mobile environment. We tested it out earlier this week.
1) Simplicity of the money in, money out structure
Planwise doesn’t aggregate financial data, so users need to manually enter their financial information. Fortunately, the San Francisco-based startup keeps things simple by limiting input to three items: income, expenses, and debt.
2) Adjustable plans feature
When the user creates a plan, like going on vacation or buying a car, the cash projection is automatically lowered or raised to reflect the impact (see below). We like how easy it is to turn on or off different plans because it allows the user to test multiple “what if” scenarios.
Planwise has partnered with Perkstreet Financial to provide users with debit card offers. Here’s what our offer looked like:
And here’s how the offers are calculated:
This section contains both positive and negative alerts in the following categories:
- Suggested action
- Upcoming events
- Products/ service
Here are some alerts we received
This quarter’s funding of over $120 million closely matches quarter 2 of last year, when Finovate alumni raised approximately $124 million.
Meanwhile, compared to last quarter’s $150 million, Finovate alums pulled in around $30 million less this quarter.
Here’s the quarter 2 summary for 2012:
April — $2.5 million raised by 1 company
May — $55.5 million raised by 5 companies
June — Over $62 million raised by 8 companies
Note: Funding that companies received before they demonstrated at Finovate was not counted. If you know of any funding that is not on this list and should be, please send the name of the company along with a link to the funding information to firstname.lastname@example.org and we will add it.
San Francisco-based PFM Planwise announced a $200,000 round in seed funding today. Several angel investors participated in the round.
The startup plans to use the funding to further expand its user base.
BetaKit covered the funding announcement and explained some of Planwise’s future goals:
- Update the platform with more visualizations
- Integrate with more banks
- Add mobile apps
- Integrate with existing PFM tools to enable users to track their spending