Personal Capital Raises $50 Million in Series F Funding
Digital wealth management company Personal Capital secured $50 million in a Series F funding round led by IGM Financial Inc., the largest investor and member of the Power Financial Corporation group of companies, at a higher valuation than prior rounds.
In addition to growing its assets and user base, Personal Capital launched Smart Withdrawal™, a personalized, tax-efficient, and interactive withdrawal strategy planner for retirement. The company also announced a partnership with Alight Solutions and AllianceBernstein to create WealthSpark™ to provide American workers with holistic, personalized insights to their finances.
According to the company, Personal Capital surpassed $8.5 billion in assets under management and two million registered users on its platform, which tracks more than $650 billion in aggregate account value.