Overview
Founded in 2019, Found is a business banking solution targeting small business owners and freelancers. Its primary appeal lies in integrating banking, bookkeeping, and tax management into a single platform. With over 38,000 5-star app ratings and over 769,000 accounts created, Found has quickly gained traction among those who prioritize simplicity and clarity in financial operations.
Found's pitch is straightforward: give users more time to focus on their business by handling the financial work behind the scenes. With real-time tax estimates, a business debit card, and income tracking, it distinguishes itself from traditional banking solutions. While products like QuickBooks offer deeper financial insights, Found appeals to those who prefer lightweight applications for daily use.
In a landscape filled with both full-service banking and niche financial management software, Found straddles the line, offering sufficient depth for daily financial management without overwhelming users with excessive features or costs. When compared to competitors like Novo and Bluevine, Found holds its own with easy-to-use interfaces and no hidden fees.
Fees and pricing
Found operates primarily through three plans: Found (free), Found Plus, and Found Pro, each catering to different levels of need from its users. The Found plan is $0/month, offering basic banking and financial tracking without hidden fees. This is ideal for those just starting or running very lean operations.
The Found Plus plan, at $35/month or $315/year (with a 25% annual saving), introduces advanced bookkeeping and tax tools, promising 1.50% APY on balances up to $20,000. This mid-tier option suits those wanting slightly more from their financial software without jumping to a high fee.
Finally, Found Pro costs $80/month or $720/year, offering 2.50% APY on all balances, 1% cashback on card purchases, and a dedicated account manager. This plan is tailored for users looking for premium features and personalized support.
| Service | Found | Novo | BlueVine |
|---|---|---|---|
| Monthly Fee | $0/month | $0/month | $0/month |
| APY | 0% | 1.10% | 2.00% on up to $100k |
| Overdraft Fees | $0 | $27 | $15 |
Tier Features
- Found: Basic finances, tax tools, no hidden fees.
- Found Plus: 1.50% APY, enhanced bookkeeping.
- Found Pro: 2.50% APY, 1% cashback, premium support.
Key features
Found excels in providing a comprehensive financial management toolset within its app, merging banking with accounting support. Users receive a Mastercard debit card, enabling seamless transactions both locally and internationally.
The standout feature is its tax management capability, offering real-time tax estimates and a save-as-you-go option to prevent surprises when tax season arrives. Users can manage contractor payments efficiently, collecting W-9s and e-filing 1099s directly from the platform, saving time and administrative hassles.
Expense tracking is another strong suit, with automated categorization that can be customized in the Plus and Pro tiers. Additionally, Found helps users categorize expenses using tags and categories, providing a clearer picture of spending patterns.
| Feature | Found | Novo | QuickBooks |
|---|---|---|---|
| Real-Time Tax Estimation | Yes | No | Yes |
| Contractor Payments | Yes | Yes | Yes |
| Custom Expense Categories | Yes (Premium) | No | Yes |
User experience
Found emphasizes user-friendliness with a straightforward app interface designed to minimize complexity. The onboarding process is quick, often taking just minutes, allowing for swift integration into daily business operations.
Both desktop and mobile platforms are intuitive, with clean navigation and easily accessible features, including invoicing and real-time insights. Users report positive experiences with the app's speed and the logical layout of its tools.
However, while the interface is generally praised, it may fall short for users needing more detailed financial analyses and reporting capabilities, which are better addressed by competitors like QuickBooks.
Customer support
Found provides user support through several channels, including email and priority phone support for those on the Plus and Pro plans. Users have found the support responsive, with issues typically resolved swiftly.
Found Pro users get the added benefit of a dedicated account manager, facilitating more personalized problem-solving and financial guidance. This feature is particularly useful for those who require extra assurance and rapid responses.
Overall, customer service is strong, though users on the free plan may experience slower service compared to those on paid tiers.
Value for money
Found represents solid value, especially with its free plan that offers essential financial tools without any additional costs. The paid tiers, while pricier, add value for businesses looking for higher interest yield and more extensive financial management features.
In terms of interest and cashback benefits, Found Pro stands out for those with higher balances. However, its premium price makes it less attractive for smaller businesses operating with minimal financial processes.
When placed side by side with Novo and QuickBooks, Found offers competitive pricing for the features it includes, making it a viable alternative for small entrepreneurs and growing freelancers.
Who should NOT use Found
Larger businesses with complex financial needs may find Found's service offerings lacking. Companies requiring detailed business analytics, multi-user access, or integrations with third-party applications might find QuickBooks or Xero more suitable.
Similarly, businesses requiring foreign currency accounts or more complex cash flow analysis should consider solutions like Wave or FreshBooks. Found's strengths lie in simplicity—weaker in depth for those needing advanced financial structures.
Freelancers in need of a more robust invoicing system and task management might prefer Bonsai, known for its expansive project management features in addition to financial tools.
The bottom line
Found is an excellent choice for freelancers and small business owners who need a no-frills platform that combines banking, invoicing, and tax management in one clean package. Its tiered pricing structure allows flexibility, although premium features may not justify the cost for every user.
"Found simplifies business finance for the modern entrepreneur, but know the trade-offs in depth for premium services."
For small businesses and sole proprietors who prioritize simplicity and user-friendly interfaces, signing up with Found makes sense. However, for those needing detailed financial reporting and broader software integrations, looking into alternatives like QuickBooks, Wave, or FreshBooks is advisable.
