SigFig, a San Francisco, CA-based wealth management technology company, raised $40m in equity and debt funding.
The financing includes:
– a $33m equity funding round from Eaton Vance, Comerica Bank, New York Life, Santander InnoVentures, UBS, Bain Capital Ventures, DCM Ventures, Nyca Partners, and Union Square Ventures, and
– a new $7m credit facility from Comerica Bank, which expand the previous one.
The company, which has raised more than $70m in total, will use the funds to to accelerate the expansion of its team and technology platform.
Founded in 2007 and led by Mike Sha, CEO, SigFig leverages a combination of design, data science, and technology to provide investors with the information and guidance they need to achieve their personal financial goals. The company partners with financial institutions across the wealth management, banking, and insurance industries to build wealth management technology solutions for their financial advisors and clients to optimize consumer’s portfolio in minutes.
Recent partners include UBS Wealth Management Americas, Pershing Advisor Solutions, and Cambridge Savings Bank.