NextCapital Raises $30M in Growth Funding


NextCapital, a Chicago, IL-based enterprise digital advice company, raised $30m in growth financing.

The round, which brings total funding to $85m, was led by FP Credit, the credit investment arm of Francisco Partners, a global investment firm. Oak HC/FT and IA Capital Group also participated in the capital raise.

The company intends to use the funds to continue to expand operations and its business reach.

Led by Chief Executive Officer and Co-Founder John Patterson, NextCapital enables its commercial partners to bring to market a full-stack digital advice solution that is built to support the demanding requirements of large enterprises. The company enables scalable financial planning, advice, and managed accounts across leading financial institutions.

The company’s multi-channel solution supports defined contribution, IRA rollover, and retail accounts. Other key configuration features include:

  • Custom user experience and ongoing engagement
  • Configurable investment methodologies and advisory roles
  • Self-service and advisor-assisted service models
  • Plan advisor enablement
  • Integrations with 401(k) recordkeeping systems and retail custodians



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