Roboadvising is a multi-million dollar business.
Betterment, the largest independent roboadvisor on the market, is now valued at $800 million after raising another $70 million in funding. The nearly decade-old roboadvisor brought on the $70 million as an extension of a Series E funding round from March 2016 led by the Swedish investment company Kinnevik.
« We’ve always prioritized what would have the biggest impact for our customers. Since the beginning, that’s meant focusing on delivering the best possible after-tax returns and empowering customers to do what’s best with their money, » Betterment CEO Jon Stein said in a statement. « The additional funding will allow us to fulfill our mission and continue to build products that put even more money back in our customers’ pockets. » Read more…
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