Penny App, a San Francisco, CA-based personal finance coaching app, raised $1.2m in seed funding.
Social Capital made the investment.
The company is using the funds to launch the app and expand operations.
Led by Alex Quach and Mitchell Lee, Penny App has just launched a personal finance coaching app built with bank-grade security.
Available on iOS and Android powered devices, Penny App features tools to explain spending and income with messages and graphs, shares facts, like where they shop most and how much they spend on coffee, track month to month spending, show transactions across all of an accounts, categorize transactions and notify when new transactions arrive.