AAA Corporates prove someone likes a SmartAsset after all

Corporates prove someone likes a SmartAsset after all

SmartAsset, the US-based operator of a personalised financial advice service, has secured $12m in a series B round featuring insurance companies New York Life and Aegon.

Investment firm IA Capital Group led the round, which also featured TTV Capital, Contour Ventures, Javelin Venture Partners and Fitz Gate Ventures. Aegon participated through Transamerica Ventures, the strategic investment unit it runs with its Transamerica subsidiary.

SmartAsset produces financial modelling technology that can simulate the financial impact of various consumer spending and investment decisions for property buying, retirement planning, life insurance, personal and student loans, credit cards, loan refinancing, taxes and investing.

Michael Carvin, co-founder and chief executive of SmartAsset, said: “It is an incredible endorsement of our strategy and mission to have such a strong group of venture and strategic investors in this round.

“We started this company in the wake of the Great Recession to use technology and data to bring dramatically better financial advice to people. With our platform now reaching more than 40 million people per month, it is incredible to see that vision becoming a reality.”

SmartAsset has now raised more than $20m since it was founded in 2010, securing $900,000 in seed funding before it received $1.5m in 2012 from Javelin Venture Partners, North Bridge Venture Partners, Y Combinator, Peterson Ventures, Quotidian Ventures and angel investor Brendan Wallace.

The company subsequently raised another $5.2m from Javelin Venture Partners, Brendan Wallace, SV Angel and individual investor Denis Grosz in 2014.

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