The problem was that, at the time, the domain was occupied by an investment banker who owned an investment fund named Mint Investments for some time. But he immediately realized that the domain would be far more valuable from a branding perspective. Patzer initially named the company MyMint, paying $3,000 to get the rights to the domain name. Unfortunately, there was still one roadblock ahead of the startup’s way. Josh Kopelman from First Round Capital, with who Patzer had dinner, became the startup’s first investor after seeing an early product demo. But eventually, his efforts would pay off. In the meantime, Patzer pitched his idea to about 50 investors who all declined to contribute. They spent the first 7 months working tirelessly, often putting in 14-hour workdays. In March 2006, Patzer and a small team of software engineers started working on Mint. Mint’s very first employee, Matthew Snider, became a friend of Patzer’s during a group hiking trip. Having saved up $50,000 gave him the necessary cushion to build up a network in the Valley. Patzer eventually moved to San Francisco to pursue his dream of becoming an entrepreneur. Post-graduation (he added on a Master’s degree at Princeton), Pratzer worked as a software engineer at companies such as IBM. That meant downloading each and every transaction (of which he had hundreds in a week), manually categorizing them, and find efficient ways for storage. To keep his books up to date, he had to download his own Quicken Loans ledger every Sunday. He eventually added some Accounting classes to be able to better handle his taxes with regards to the web development services he offered. After high school, he pursued 3 Computer Science and Engineering majors at Duke University. Pratzer’s fascination with computers already arose from an early age.īy the time he was 15, he had already launched his first company, a web development service for local businesses. , headquartered in San Francisco, California, was founded in 2006 by Aaron Patzer. Mint can be accessed via the company’s website, tablets, smartwatches, as well as via its mobile phone applications (available on Android and iOS devices). On top of that, Mint provides a plethora of educational resources for users to improve their money management skills.
Users can purchase products such as credit cards, personal or student loans, auto or home insurance, as well as banking accounts. Bill payment tracker for recurring payments, such as internet and other subscriptionsĪpart from its money management tools, Mint also connects its users with other financial service providers.Creating budgets for different categories and dedicated saving goals.Alerts about ATM fees, over-budgeting, unusual spending habits, or payment reminders.Some of its features and products include: The company aggregates data from different accounts to give users a 360-degree overview of their financial situation. Mint is a personal finance aggregator platform that allows users to manage and track their finances.
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