Personal Capital’s Rapid Growth Attracts More Capital

in Personal Capital News by

After a period of tremendous growth at Personal Capital over the last year, we’re excited to announce today that our current investors and Series E investors IGM Financial have provided an additional $40 million of growth capital in an extension of our Series E round at an even higher valuation. The investment builds on the $75 million that IGM, a member of the Power Financial Corporation group of companies, invested in Personal Capital in 2016.

Our growth in the last year only reaffirms that we are truly solving a major pain point for consumers by offering conflict-free advice and full financial transparency through our mobile app and online dashboard. With this additional funding, we have the opportunity to scale faster to meet the quickly growing demand for our products and services, helping more families reach their long-term financial goals.

What’s Next for Personal Capital

So what’s next? With this financing, we plan to invest in expanding our advisory force in multiple markets including Dallas, Atlanta, New York, greater Los Angeles and Chicago, while also expanding our offices in San Francisco and Denver. Additionally, we will invest further in product development and marketing, as well as deepening our service for specific customer segments such as our Private Client Service – which serves investors with more than $1 million in investable assets. Our Private Client Service now comprises about 40 percent of Personal Capital’s assets under management.
Read the full press release here.

A Big Thank You to Our Clients

With this milestone, we want to thank each of our clients for the tremendous ongoing support. Because of you, we are able to manage $4.9 billion in assets, after adding $1.4 billion since the start of 2017 and growing our average client size from $340,000 to over $380,000 in the same time frame. We can’t wait to see what the year to come has to offer as we aim to improve more financial lives across the country through technology and people.

Check out our award-winning personal finance tools or make an appointment for a free consultation with one of our financial advisors today.

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Jay Shah

Jay Shah

Jay is CEO of Personal Capital. He has over 20 years of leadership experience at privately-held and public financial services and technology organizations, over half that time spent building & running consumer-direct FinTech companies like Personal Capital and E-LOAN.

One Response

  1. IndyMoneyGuy

    Great news for an awesome company! Congratulations. One of the best financial services products out there!


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