Still iffy on your 401(k)? Vestwell just raised $8M to keep you in the loop

October 3, 2017

If you still don’t quite understand the details of your 401(k), you’re not alone. Retirement planning is complicated, and for millennials who often bounce from job to job, it’s tough to keep track of it all.

Fintech startup Vestwell just closed an $8 million Series A funding round to help streamline the process and provide more transparency. The retirement planning platform uses a mix of modern technology and human advising to get employers and employees low fees and comprehensive plans.

“I have been a small business owner and experienced firsthand the difficulty in offering a 401(k) program to employees,” said founder and CEO Aaron Schumm in a statement. “I have also been entrenched in the financial technology and services for many years, long before it was affectionately referred to as fintech. We have taken our unique vantage point, deep understanding of the moving parts in financial services, and a background in helping businesses scale through technology to help redefine how a 401(k) plan should work. Pulling all of these pieces together can truly help close the retirement savings gap in America, while building our own business.”

Ben Malka, a partner at F-Prime Capital, will join Vestwell’s Board of Directors as part of the deal. The investment was led by F-Prime Capital Partners, with participation from Commerce Ventures, FinTech Collective and Primary Venture Partners, and will be used to grow the platform’s offerings and expand the team.

 

Image via Shutterstock.

Know of a company that deserves coverage? Let us know or tweet us @builtinnewyork.

Jobs at Vestwell12 open jobs
All Jobs
Dev + Engineer
HR + Recruiting
Internships
Marketing
Operations
Product
Project Mgmt
Sales
Project Mgmt
new
Vestwell
New York
Sales
new
Vestwell
New York
Project Mgmt
new
Vestwell
New York
Sales
new
Vestwell
New York
Operations
new
Vestwell
New York
HR + Recruiting
new
Vestwell
New York
Operations
new
Vestwell
New York
Internships
new
Vestwell
New York
Developer
new
Vestwell
New York
Product
new
Vestwell
New York
Operations
new
Vestwell
New York

NYC startup guides

LOCAL GUIDE
Best Companies to Work for in NYC
LOCAL GUIDE
Coolest Tech Offices in NYC
LOCAL GUIDE
Best Benefits at NYC Tech Companies
LOCAL GUIDE
Women in NYC Tech
Developer Jobs
View 924 jobs
Design + UX Jobs
View 184 jobs
Marketing Jobs
View 295 jobs
Product Jobs
View 243 jobs
Sales Jobs
View 521 jobs
Data Jobs
View 328 jobs