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Serial Entrepreneur Returns to Silver Spring with Latest Company Truebill

For Immediate Release: Wednesday, October 23, 2019

Truebill, Inc., a leading financial technology company, has relocated its corporate headquarters to downtown Silver Spring from the San Francisco Bay area. Truebill’s software technology helps consumers optimize spending, manage subscriptions, and lower recurring bills. The company was launched through Silicon Valley’s prestigious Y-Combinator accelerator and has raised more than $22.5 million in venture capital to date.

Truebill CEO Haroon Mokhtarzada is a serial tech entrepreneur and investor originally from Montgomery County — an alumnus of Montgomery Blair High School. He co-founded the company along with his brothers, Zeki, Idris and Yahya. Mokhtarzada has successfully launched other companies in Silver Spring including Webs.com which was acquired by Vistaprint in 2011 for $117 million and remains headquartered in the County.

“Silver Spring’s immense diversity, walkability, and easy access to DC were key ingredients in the success of Webs.com,” said Mokhtarzada. “When looking to grow Truebill, Silver Spring was clearly our best choice. Not only is it home, it provides a quality of life that makes it easy to hire the best and brightest to grow the company.”

“We are excited to welcome Haroon back home to Montgomery County, and are proud to support Truebill as it grows,” said County Executive Marc Elrich. “Truebill and its entire corporate team are the tech entrepreneurs of the future.”

In addition to relocating the company’s headquarters, Truebill plans to add 95 jobs in downtown Silver Spring. The County will be supporting Truebill with a $250,000 grant from its Economic Development Fund and the County’s MOVE program will provide $22,400 in funding based on the commercial space the company is leasing.

“Truebill is a great addition to Silver Spring’s entrepreneurial community,” said Bill Tompkins, interim CEO of the Montgomery County Economic Development Corporation. “Companies in downtown Silver Spring are thriving and have raised over $140 million in venture capital and private equity since 2014. Haroon’s management experience, ties to investors, and commitment to a vibrant community will nurture East County’s entrepreneurial ecosystem.”

“Strengthening our network of minority and female tech entrepreneurs is crucial to the economic vitality of our county,” said County Council President Nancy Navarro. “Haroon’s decision to move his company to Silver Spring from the Bay Area will inspire other young, minority CEOs to make their mark in our community as well.”

“As we welcome Truebill to Montgomery County, we are also welcoming CEO Haroon Mokhtarzada back home,” said Councilmember Evan Glass, who facilitated the relocation efforts. “This move will open the doors for other innovative companies to come to Montgomery County, where employees will enjoy our high quality of life, vibrant culture and inclusive values.”

For more information about Truebill, visit its website.

Release ID: 19-353
Media Contact: Sarah Miller 240-641-6704 , Sonya Burke 240-777-6531