Vestwell, a NYC-based provider of a full-fiduciary, white-labeled retirement platform, emerged from stealth mode and raised $4.5m in seed funding.
The round was led by FinTech Collective, with participation from F-Prime Capital, Primary Venture Partners and Commerce Ventures.
The compamy will use the funds to continue to develop and launch the platform.
Led by Aaron Schumm, founder and CEO, Vestwell provides a white-labeled retirement platform for the RIA community and beyond to create transparent, accountable, and automated 401(k) and a defined contribution platform that gives financial advisors the ability to service employers and employees.
The full product suite includes investment services, trading, administration, custody, recordkeeping, and trustee services.