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This story does seem to gloss over the VC piece, to me it read like they started with no money and got to $170 million without investment. Didn't they raise 30+ million?

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it sounds like they they raised a little over $30M, and the last $14M of that was @ a $140M valuation.

Five rounds of funding totaling $31.8M: http://www.crunchbase.com/company/mint.

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