![Vestwell Raises $125 Million in Sequence D Vestwell Raises $125 Million in Sequence D](https://insuranceinfonews.com/wp-content/uploads/https://www.wealthmanagement.com/sites/wealthmanagement.com/files/Aaron%20Schumm_Vestwell.png)
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Personal fairness and enterprise capital for fintech and retire-tech stays obtainable for these that may land it.
As proof, Vestwell, the record-keeper-as-a-service, and employer and particular person financial savings platform supplier, introduced Thursday its Sequence D spherical, which introduced in $125 million.
The spherical was led by Lightspeed Enterprise Companions, in addition to current buyers Fin Capital, Major Enterprise Companions and FinTech Collective, which additionally added capital. Blue Owl and HarbourVest additionally participated within the spherical.
Justin Overdorff of Lightspeed joined Vestwell’s board of administrators as a part of the spherical.
This newest funding follows a July announcement of a strategic partnership with Silver Lake Waterman; the agency is understood for offering versatile enlargement capital to later-stage progress corporations.
Vestwell raised $70 million in a Sequence C spherical in July 2021.
The agency stated the most recent cash shall be used to broaden Vestwell’s give attention to state-savings program initiatives, and proceed growth on expertise and packages for its companions and the employers and finish savers that use its platform.
Vestwell has launched or partnered to create a number of state auto-IRA packages since 2021, most just lately together with New Jersey and Maine (Colorado’s current auto-IRA performance is for use because the framework for the Maine program).
It additionally administers greater than 30 packages throughout quite a few states, together with auto-IRAs and 529 School Financial savings plans.
In Could, Vestwell introduced it had been chosen by JPMorgan Chase & Co. to energy the On a regular basis 401(ok) small enterprise office financial savings platform. At the moment Vestwell additionally introduced it had expanded its distribution partnerships with advisory companies Commonwealth Monetary Community and Cambridge Funding Analysis.
Initially based in 2016, Vestwell is led by CEO Aaron Schumm (one among WealthManagement.com’s “10 To Watch” in 2017).
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