Personal Capital, a Redwood City, CA-based digital wealth management company, raised $50m in Series F funding.
The round was led by IGM Financial Inc., member of the Power Financial Corporation group of companies.
The company, which has recently surpassed $8.5 billion in assets under management and two million registered users on its platform, tracking more than $650 billion in aggregated account value, intends to use the funds to further drive growth, enhance its technology platform, and invest in value added partnerships.
Led by Jay Shah, CEO, Personal Capital provides free online tools that create clarity with all people’s accounts in one place In addition, including recently 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™, which will provide American workers with holistic, personalized insights to their finances through its technology.
Personal Capital also has hubs in San Francisco, Denver, Dallas, and Atlanta.