A Tailwind for Growth: Personal Capital Raises $75 Million

in Personal Capital News by

It’s an exciting day at Personal Capital as we announce our $75 million Series E round of funding. As you might have guessed, we have ambitious plans to scale our business and broaden our services, and this new funding will enable us to help even more people manage their complex financial lives.

With over 1 million registered users, tracking $239 billion, and $2.4 billion in assets under management, this is just the tip of the iceberg for Personal Capital.

Meet Our Investor: IGM Financial

We’re happy to introduce you to IGM Financial, a member of Canada’s Power Financial Corporation group of companies. With its investment, IGM Financial, one of Canada’s premier personal financial services companies, joins the list of leading financial services firms that have invested in Personal Capital’s growth.

With IGM Financial’s rich heritage in financial advice and asset management and our expertise in digital wealth management, we look forward to a fruitful partnership with this ideal investor.

Continued Focus on Financial Planning

It wasn’t long ago that we announced our Series D, and since then we’ve worked hard to create new ways to help you not only reach short-term financial milestones, but also plan for long-term events like retirement.

Since our last round, we launched our Retirement Planner, a powerful tool that takes the guesswork out of planning for retirement. Hundreds of thousands of users have linked their financial accounts to our dashboard, and with the Retirement Planner they can now get a forecast of how likely they are to save enough by the time they want to retire, based on plans around having children, retirement age, income, home purchases, and more. If you need a hand with planning, we have a full team of licensed financial advisors who can answer any questions you have about events like setting up a trust for your children, allocating your 401k, setting up a 529 for a child’s college savings, and more.

And today with IGM Financial, we’ll gain the rich experience of a team that has spent decades in the financial planning space as well. IGM President and CEO, Jeff Carney, will be joining our board of directors, adding 25 years of work within investment management firms and banks across both retail and institutional platforms in Canada and the U.S.

Forecast Your Retirement Income With The Retirement Planner

What’s Next for Personal Capital

This funding provides the capital we need to continue to grow quickly. We’re seeing incredible demand for our products and services, and we want to continue scaling even faster. Sound financial advice shouldn’t just be for the ultra-wealthy, and this investment enables us to help more families manage their entire financial life through the mobile devices they carry in their pockets.

Demand for our advisory services and tools is only growing, and we are excited to partner with IGM Financial and our current investors to help more people reach their long-term financial goals, whether that be starting a family, buying a home, or getting ready for retirement.

Live a Better Financial Life

There’s much more to come with Personal Capital, and we’re excited to help you live a better financial life. Check out our award-winning tools if you haven’t already, or make an appointment for a free consultation with one of our financial advisors today.

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Bill Harris

Bill Harris

Bill Harris is the founder of Personal Capital. He has spent 25 years building financial technology, notably serving as CEO of Intuit and PayPal. He is the founder of several financial technology companies and has served on the boards of numerous technology firms, such as SuccessFactors, RSA Security, Macromedia, and Answers.com.

7 comments

  1. Anonymous

    I’ve got this great idea to go with the investment from a Canadian fund: offer your services in Canada too.

    Reply
  2. Brian

    Glad to see you are getting more investment. I hope you guys invest at least part of this money into adding PC features such as splitting transactions and including paycheck deductions in reports. I wouldn’t even bat an eye at paying $5-10 per month for enhanced features. Think about it.

    Reply
  3. valuetradeblog

    Hi,

    thanks for the Information and being so open about it!

    kind regards,
    valuetradeblog

    Reply
  4. Jack

    You guys need to setup 2 step authentication for your site. It’s fantastic to be able to consolidate all your investments, bank accounts and credit accounts in one place. But with just a password to manage those, it’s a bit scary. 2 step authentication will make me feel a lot safer.

    Reply
  5. Salim

    Is there any plan to include options to link Canadian Funds and Canadian financial institutions to import transactions.

    Regards,
    Salim

    Reply
  6. Kishore

    I like most of what you offer. Your interface is better. However, you don’t offer the key features for day-to-day money management. I think most of Personal Capital subscribers are like me, we started with nothing and built this decent (not ultra-wealthy) portfolio. It will be nice to manage our budget and personal wealth all in one place.

    Reply
  7. kimberlie smith

    I’m so confused about 401

    Reply

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