TLDR:
- NewRetirement, a financial planning platform, raised $20M in Series A funding.
- The funding will be used to expand enterprise offerings and enhance user experience.
NewRetirement, a San Francisco-based digital-first financial planning platform, recently closed its Series A round with $20 million in funding. The round was led by Allegis Capital and included participation from Ulu Ventures, Nationwide Ventures, Fin Capital, Frontier Venture Capital, Cameron Ventures, Marin Sonoma Impact Ventures, Northwestern Mutual Future Ventures, Plug and Play Ventures, and Motley Fool Ventures. This brings the total funding raised by the company to $20.8 million.
The company plans to use the funds to expand its enterprise offerings, scale onboarding and support for new partners, enhance research and development efforts to help its user base, integrate LLMs and AI for personalized recommendations, and build capacity to meet increasing demand. Led by Founder and CEO Stephen Chen, NewRetirement offers a comprehensive financial planning platform that allows users to discover, design, and manage personalized paths to a secure future.
NewRetirement’s platform can be co-branded or white-labeled for partners, allowing employer plan sponsors and plan providers to offer the platform’s tools to their employees as a self-directed financial wellness benefit. Wealth managers, banks, and insurance companies can also leverage the company’s APIs, planner, calculators, and advisor tools to develop their own white-labeled or co-branded platforms, driving revenue and engaging consumers more effectively.
