|Seed, 1/07 |
|Angel, 4/07 |
Buxfer is the next-generation personal finance solution, taking money management to the web. Buxfer lets you monitor all your bank and credit card accounts at one single place. Transactions are automatically downloaded every night and categorized. Buxfer’s spending reports let you dig into your past spending, drill down into different categories and analyze spending trends. To plan future spending, you can create budgets, bill reminders and forecast your monthly cashflow. Buxfer integrates with your mobile device, letting you check account balances or add cash expenses while you are on the go.
Co-founder Ashwin Bharambe got the idea for Buxfer after becoming frustrated with the swarm of IOUs pasted up on his refrigerator while he was at Carnegie Mellon University working towards his PH.D. Without a great way to track what he owed and what others owed him, Ashwin wrote a program to solve his problems that would eventually become social money website, Buxfer.
Buxfer allows its users to track their personal finances as well as regulate and organize loans and IOUs to friends. It lets you keep totals of what you owe and what is owed to you, as well as divide bills.As an added bonus, users can log on to Buxfer using their Google, Yahoo, Facebook, AIM or Open ID logins to eliminate the account creation hassle. Buxfer also displays your spending habits in the form of a pie chart with slices designated to categories like food, leisure, rent or whatever you want. It has auto tagging which places your bills in the correct category. Buxfer is something of a Quicken for a younger generation, especially after it launched its Facebook application. As of August 2007 Buxfer offers payment integration through Amazon payment’s site.
Competitors, Wesabe and Billmonk also have payment integration while PayPal is the clear leader in online transactions and transactions made between friends. Buxfer is a Y Combinator company which has grown since its launch to include some impressive data visuals. As of November 2009, Buxfer had tracked $1.66 billion in over 10.33 million transactions.
|Launch Date||September 1, 2006|
|Launch Date||June 24, 2007|
Buxfer’s facebook widget brings its money management system to a wider audience of people frustrated with their IOUs. This integration with facebook will make Buxfer more accessible even though it doesn’t require unique login criteria. Money management is one big thing facebook friends worry about, making Buxfer’s widget one of a few new and useful facebook additions.