Fintech startup Vestwell announced it has raised $8 million in Series A financing led by F-Prime Capital. Primary Venture Partners, FinTech Collective and Commerce Ventures also participated.
Vestwell is a turnkey solution for financial advisers, providing them with the ability to offer clients retirement plans without taking on the risk and costs typically associated with creating one. The company removes the friction points of confusion, cost, and compliance overhead that typically come with traditional retirement plans. Vestwell’s digital platform facilitates seamless plan design, automated onboarding and low-cost investment strategies, making it easier for employers to offer retirement plans.
The company revealed that the funding will be used to expand the team and enhance the technology.