Personal Capital, a San Francisco, CA-based digital wealth management firm, completed a $50m Series D financing.
The round was led by Corsair Capital, a highly regarded private equity firm focused on financial services, as well as BBVA Ventures and USAA. Existing venture investors Institutional Venture Partners (IVP), Venrock and Crosslink also participated. In conjunction with the funding, Jeremy Schein of Corsair Capital will join the company’s board.
The company intends to use the funds to accelerate growth.
Led by CEO Bill Harris and COO Jay Shah, Personal Capital combines personal finance apps available for iPhone, iPad and Android featuring financial data and analytics with dedicated financial advisors who work with clients to tailor their financial plan and enable them to make better financial decisions.
According to the company, over 600,000 American families use these apps to track more than $100 billion of their money.