SmartAsset scoops up $28m in new funding
New York-based fintech SmartAsset, which provides automated financial solutions, has raised $28 million in new funding, reports David Penn at Finovate.
The Series C round takes the company’s total equity capital to more than $51 million and featured the participation of Focus Financial Partners, Javeline Venture Partners, TTV Capital, IA Capital, and Citi Ventures, as well as other investors.
The company will use the investment to build its audience and expand its platform.
More than 45 million people use SmartAsset’s personal finance information and online resources every month.
The company’s automated financial modeling software, powers financial calculators, and data-driven research and content to give consumers information on personal finance topics ranging from planning for a first-time home purchase or saving for retirement.
SmartAsset also helps individuals find the right financial advisor based on their specific needs. By answering a series of questions – location, preferred retirement timeline, how users currently manage money, and so on – SmartAsset can assess the individual’s general investment preferences and goals and provide up to three recommendations for financial advisors. All of SmartAssets’ recommended advisors are vetted and registered with the SEC or appropriate state regulator.
The firm also announced a partnership with CRM software provider Wealthbox in April to integrate its SmartAdvisor lead generation solution into the Wealthbox platform.
