US-based financial advice provider SmartAsset has secured $28m in a series C round that included Citi Ventures, the venture capital arm of financial services firm Citi, TechCrunch reported yesterday.
Focus Financial Partners, Javelin Venture Partners, TTV Capital, IA Capital, Contour Venture Partners and private investor Fabrice Grinda also contributed to the round.
Founded in 2011, SmartAsset has built an automated financial advice platform that uses data to supply guidance on a range of financial transactions, such as property buying, refinancing, tax, credit cards, checking accounts, life insurance, student loans and retirement savings.
The round took the company’s overall funding to more than $51m according to TechCrunch. That sum includes $12m in a 2016 series B round backed by insurers New York Life and Aegon, which invested through its Transamerica Ventures unit.
The series B round was led by IA Capital Group and backed by Javelin Venture Partners, Contour Ventures, TTV Capital and Fitz Gate Ventures.
SmartAsset’s earlier backers include North Bridge Venture Partners, Y Combinator, Peterson Ventures, Quotidian Ventures, SV Angel and angel investors Brendan Wallace and Denis Grosz.