- Personal finance app Status Money is closing its doors on November 10.
- Founded in 2016 by former Citi and Goldman Sachs bankers Majd Maksad and Korash Hernandez.
- Status Money offers social personal finance management, allowing users to compare their finances anonymously.
- Over time, the app introduced various services, including cash rewards, financial advisory, and a cashback credit card.
- Status Money is transitioning member accounts to Quicken’s Simplifi budgeting tool.
- The app’s rewards program is terminated immediately.
- Customers can access Simplifi, which offers custom spending plans and saving goals.
- The exact reason for Status Money’s closure is not disclosed.
- This shutdown follows a trend in the personal finance management sector, with Mint also announcing its closure.
PFM downturn continues as Status Money closes down
