Who Owns Rocket Money?

Truebill was founded in 2015 in San Francisco by Haroon Mokhtarzada, a Harvard Law graduate who had previously built and sold the website creation platform Webs.com to Vistaprint for more than $100 million, along with his brothers Yahya and Idris Mokhtarzada.

The original product attacked a specific pain point: forgotten recurring charges. Users linked their bank accounts and the app surfaced every subscription they were paying for, then offered to cancel unwanted ones on their behalf. The pitch landed during a period when subscription fatigue was becoming a measurable consumer problem.

The company raised venture funding through the late 2010s and expanded from cancellation into budgeting, bill negotiation, and savings automation. Its bill negotiation service, where the company negotiates cable, phone, and internet bills in exchange for a percentage of the savings, became a signature feature. By 2021 Truebill had more than 2.5 million members, over $100 million in annual recurring revenue, and a spot on The Information's list of most promising startups. Revenue had more than doubled year over year in 2021.

On December 20, 2021, Rocket Companies announced it would acquire Truebill for $1.275 billion in cash. The strategic logic was customer acquisition: Rocket's mortgage servicing book generated steady fee income but few consumer touchpoints, while Truebill had millions of engaged users checking their finances weekly. The deal closed in early 2022.

In August 2022 Truebill was renamed Rocket Money, folding the app into Rocket's brand family. Haroon Mokhtarzada remained CEO of the unit, headquartered in Silver Spring, Maryland, with an additional office in San Francisco.

Post-acquisition the product kept expanding. Premium features grew to include automated subscription cancellations, advanced budgeting, full credit reporting, smart savings, and net worth tracking. In 2025 and 2026 the company introduced Rowan, an AI-powered financial assistant delivered through text messages that can cancel subscriptions, flag price increases, and initiate bill negotiations. The member base passed 10 million, and the app holds a high rating across hundreds of thousands of App Store and Google Play reviews.