Intuit Mint

Mint
	File:Intuit Mint new logo.svg
Company type	Subsidiary
Industry	Personal finance, software
Founded	2006; 20 years ago
Founder	Aaron Patzer
Defunct	March 23, 2024
Fate	Merged with Credit Karma
Headquarters	Mountain View, California, United States
Area served	United States, Canada
Products	Web application, mobile application
Number of employees	35; prior to acquisition by Intuit in 2009
Parent	Intuit
Website	mint.intuit.com

Mint, also referred to as Intuit Mint and previously known as Mint.com, was a personal finance management platform available as a website and mobile app serving users in the United States and Canada. It was developed by Intuit, Inc., the company behind products like TurboTax, QuickBooks, and Credit Karma. The service allowed users to consolidate bank, credit card, investment, and loan information into a single interface, while also providing tools for budgeting and financial goal tracking.

Establishment and Funding

Founded by Aaron Patzer, Mint.com initially provided account aggregation through a collaboration with Yodlee. By early 2008, its revenue model was based on lead generation, earning commissions from recommending tailored financial products.

The startup secured over $31 million in venture capital from investors such as DAG Ventures, Shasta Ventures, and First Round Capital, along with angel contributors including early Google investor Ram Shriram. Its final funding round of $14 million closed in August 2009 and was characterized by CEO Patzer as a strategic move. At that time, Mint’s valuation reached approximately $140 million. Before being acquired by Intuit in 2009, the company had a workforce of 35 employees.

Acquisition by Intuit

Intuit announced on September 13, 2009, that it would acquire Mint for $170 million, with the deal completing on November 2, 2009. Following the acquisition, Mint’s founder Aaron Patzer assumed the role of vice president and general manager of Intuit’s personal finance division, managing Mint alongside Quicken’s online, desktop, and mobile offerings. Patzer indicated plans to integrate Mint’s functionality into Intuit’s Quicken desktop software to create a cohesive personal finance solution.

Operations under Intuit

After joining Intuit, Mint migrated to the company’s proprietary account connection technology and was rebranded from "Mint.com" simply to "Mint." The platform continued to offer consolidated tracking of bank accounts, credit cards, investments, and loans through a unified dashboard with budgeting and goal-setting capabilities. By 2010, Mint supported connections to over 16,000 financial institutions across the U.S. and Canada, managing more than 17 million accounts. Aaron Patzer left Intuit in December 2012.

By 2011, Mint had replaced Intuit’s Online Quicken product entirely, completing the transition of users by 2013. In 2016, user numbers exceeded 20 million. Intuit’s consumer segment—which includes both Mint and TurboTax—generated revenues of $2.775 billion in 2019. Nevertheless, by 2020 Mint’s registered user base had declined to 13 million amid critiques regarding limited product innovation during Intuit’s ownership; founder Patzer remarked that the app had been maintained in a "maintenance mode" for multiple years.

Service discontinuation

Intuit declared that Mint would cease operations on December 31, 2023, advising users to migrate to its Credit Karma service. This deadline was subsequently postponed to March 23, 2024.

Security issues

Back in 2010, Mint encountered backlash for requesting users’ bank and credit account usernames and passwords, which were stored in databases that could be decrypted. This practice sparked concerns regarding the vulnerability of user data to breaches. To address such risks, some financial institutions provide "read-only" access credentials.

In January 2017, Intuit and JPMorgan Chase settled a disagreement by agreeing to create software that allows Chase clients to share their financial information with Mint without Intuit retaining login details. Additionally, Intuit pledged not to market Chase customers' data.

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