US budgeting app Copilot has landed $6 million in a Series A funding round led by VC Adjacent, aimed at fuelling the fintech's AI and product development ambitions.

Intuit is winding down budgeting app Mint this week and that’s become good news for competitor Copilot. Mint’s demise represents both the end of an era and proof that consumers want more from their finance app, founder Andres Ugarte told TechCrunch.The New York-based CEO started the subscription-based personal finance tracker in January 2020 to offer an alternative to Mint. Today, Copilot has over 100,000 subscribers with a majority of them coming into the app at least once a day. Others enter the app multiple times a week, with 20% of users being what Ugarte considers “heavy users,” using Copilot between five and 10 times a day.“That’s good for an app that is not a social network,” Ugarte said.Users also save an average of 5% after starting with the app, Copilot calculates. While that might not seem like a lot, Ugarte notes that for someone making $100,000, for example, that is $5,000 a year. Multiplied by 100,000 users, and the app is putting half a billion back into consumers’ wallets, he said.Beyond MintLike millions of others, Ugarte tried some personal finance apps, including Mint, yet found them to be lacking