H&R Block has invested in a California company, MoneyStream, whose app helps consumers predict how fat their pocketbooks will be each day.
MoneyStream said in a news release that it raised $3.2 million in financing from H&R Block and individual investors. The company did not say how much of the money came from Block or how much ownership it gave the Kansas City tax preparation company.
“H&R Block is very focused on delivering innovative services for our clients,” Block’s Jason Houseworth said in the release. “MoneyStream’s ability to integrate information from so many different sources to forecast cash flow and provide a holistic financial view meets our unique business requirements.”
MoneyStream requires users to link their bank accounts, credit card accounts and accounts at billers. It then uses proprietary algorithms to predict upcoming bills and income. The result is a calendar-based forecast of how much money the user will have and when he’ll have it.
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