SmartAssets banks $12m for financial advice

Financial advice startup SmartAsset has raised $12m in a Series B round of funding led by IA Capital Group. The deal also saw participation from TV Capital, Contour Ventures, Javelin Venture Partners, New York Life, Transamerica Ventures and Fitz Gate Ventures.

The New York-based company offers personalised financial advice across verticals such as home buying, retirement planning, life insurance, personal loans, student loans, credit cards, loan refinance, taxes and investing.

It also offers a tool to publishers that embeds an interactive calculator or data visualisation into articles.

“We started this company in the wake of the Great Recession to use technology and data to bring dramatically better financial advice to people,” says SmartAsset’s CEO Michael Carvin.

“With our platform now reaching more than 40 million people per month, it is incredible to see that vision becoming a reality.”

The new round brings the company’s total funding to more than $22.5m. It says it will use the capital to grow its team and expand the capacity of its platforms.

Copyright © 2016 FINTECH GLOBAL