NextCapital, a US-based digital advice service provider that counts Transamerica Ventures, the corporate venturing vehicle of insurance firm Transamerica, among its investors, has closed a $16m series B round.
The round was co-led by asset management firms AllianceBernstein and Manulife, and venture capital firm Route 66 Ventures.
NextCapital’s existing shareholders also include Russell Investments, FinTech Collective, Kelvingrove and Vermont Seed Capital Fund, though it did not confirm their involvement in the latest round.
The company’s technology allows its financial services partners to supply a configurable, automated digital advice service for financial planning to individual investors. Its platform incorporates account aggregation, analytics, planning and portfolio management.
NextCapital previously raised $6m in a September 2014 series A round co-led by Transamerica Ventures and Russell Investments that also included FinTech Collective, Kelvingrove Ventures and Vermont Seed Capital Fund.