// startup autopsy
FreeMonee
Personalized cash gifting powered by bank data — a solution merchants weren't ready to buy
marketfitSlow Death
Years-long decline before final shutdown · Fatal mistake: FreeMonee depended on simultaneous buy-in from banks, merchants, and consumers — a three-sided market that proved impossible to scale with available capital.
Key Events Timeline
FOUNDING
FreeMonee founded to build a bank-data-driven personalized cash gifting and offers platform.
FUNDING
FreeMonee raises Series B funding, attracting attention for its novel use of anonymized bank transaction data for personalized offers.
FUNDING
FreeMonee closes its last known funding round, total capital reaches $45M. Merchant adoption remains insufficient.
LAYOFF
FreeMonee begins significant workforce reductions as revenue targets are missed and runway shortens.
SHUTDOWN
FreeMonee ceases operations after failing to achieve a profitable business or strategic acquisition.