The service is currently UK only but it will be globalised once the devs have got the beta out the way. That needn’t stop others taking a peek - in fact we welcome that.

12 blog reviews in already and we’ve barely made any noise about it. 158 beta testers at the last count.

Lots still to do but everyone I’ve spoken with thinks it’s disruptive in a good way.

http://www.expensr.com

It has all the features you’d expect out of a financial app, plus a very nice UI, plus our newly launched community features (which takes a different approach than wesabe, allowing users to see how their spending compares to other users of a similar demographic/”tag”).

It is definitely an exciting space to be in!

it’s a testament to the company that this is the first deal USV has done on the west coast (yes?), and only the second outside the east coast (feedburner was chicago). hopefully brad doesn’t need to take quite as many redeyes as josh kopelman does for Mint & his other deals here in the bay area.

as noted above by Fred & Shawn & others, i’m also optimistic there’s a big market opportunity in “personal finance 2.0″ where many players — both new & old — can participate & innovate. having been along for the ride at PayPal from 2001 to 2004, i’m still amazed at how much room there is to improve on financial services… particularly for the simplest & most typical consumer use scenarios.

i agree shawn: should be a fun ride

- dave mcclure
http://www.mint.com/
http://500hats.typepad.com/

Intuit is a feature rich money managment tool and Wasabe is a social network site with VERY limited capabilities. The scary thing is the wisdom imparted by the Wesabe “crowd” is more than likely pretty lame since I have to beleive the site is full of people who have a hard time managing their own money.

What are the demographics of the repeat users of the site? Willing to give up some real numbers and not just marketing generalities Marc?

I doubt it since I am sure the hoped for liquidity event is dependent on some jacked up potential unsubstantiated by any meaniful metrics.

Great question… I will let the other companies speak for themselves, but here are some of the values that Geezeo will bring that Money and Quicken don’t. Many of these I am sure the others will also offer - but I am focusing only on Geezeo.

1. Mobile enabled - access all your accounts info via text messaging

2. Automated account updates: as software products, Quicken and Money can not sync with your accounts, automatically - this creates two problems:
a. if you are not diligent about adding all your data (every 90 days) - critical
data may not be available to import
b. Prevents you from setting pro-active account alerts. Within the next two
months (so much for stealth development), Geezeo will alert you to low
balances, potential late payments, spending trend alerts, etc

3. Assistance with product selection: Geezeo will alert to money saving strategies by finding better products (ex. you can make an addtl $300 a year by moving your $2,500 in your 1.5% savings acct into a 4.5%* account). [* we want to show all your product options] Along with quantitative comparisons (rate and fee info) we will gather qualitative info (user ratings, etc) to ensure you make the best decision for you.

4. Comparisons to the community - compare your spending habits/trends versus others - see where you may be over/underspending (comparatively) and get tips and suggestions on how to save money.

Sorry for the winded post - but there are HUGE differentiators between traditional quicken and money apps and the new personal finance players. These are some of Geezeo’s differentiators - many in the space may have similar features others have much different differentiators (check out buxfer, obopay, networth, etc).

It will be an exciting ride!

Lesson: Don’t believe everything you read.

This one has Brad’s signature on it, from finding the opportunity, to convincing the Wesabe team that our firm could help them. I am really excited to be involved with Wesabe, but I just want to make sure credit is placed in the right place. There are two of us at USV and its a true partnership.

Brad looked closely at the whole space (including Mint) and concluded that Wesabe was the one we wanted to bet on. I also think there is room for more than one big company in this market and we are looking forward to Mint’s launch as well as Geezeo. And don’t forget about Buxfer. Lot’s of potential winners in this market and its way too early to decide who the heavyweight is.

Ultimately the users will decide, not the VCs or the media.

Fred

Marc Hedlund, Wesabe

It will be interesting to see where the social personal finance space ends up - and this certainly raises the intensity and awareness.

At Geezeo, we are thrilled to be one of a handful of companies that will help shape the future landscape of personal finance. Expect lots of innovation to come out of this space.

Congrats again Wesabe. Well deserved…

We are also running an “online quicken” startup from Spain, check it out at https://www.moneytrackin.com

We have over 300,000 entered transactions (and growing steadily!), and we are going to release some major new functionalities soon, stay tuned