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SmartAsset raises USD28m in Series C funding

SmartAsset has raised USD28 million in Series C funding. The new investment, which comes from Focus Financial Partners (backed by Stone Point Capital and KKR), Javelin Venture Partners, TTV Capital, IA Capital and Citi Ventures, among others, increases the company’s total funding to more than USD51 million.

SmartAsset plans to use the funding to further grow its audience, as well as expand its fast growing SmartAdvisor platform, which matches consumers to financial advisors.
 
The six-year-old Y Combinator company provides personal finance information and tools to more than 45 million people each month. Powered by proprietary Automated Financial Modelling software, SmartAsset’s tools, calculators, data-driven studies and educational content provide the web’s best personal finance resources, directly to consumers.
 
“This investment will accelerate our mission of becoming the web’s premier resource for personal finance tools and content. In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients,” says CEO and Co-Founder Michael Carvin. “We could not be happier to have the support of new and existing investors, bringing with them the expertise and acumen needed for us to accelerate our growth.”
 
“Financial advisors currently have no reliable, easy-to-use digital channels to grow their business. We see a tremendous opportunity for SmartAsset to create the web’s first digital platform to help advisors add new clients in a profitable and scalable fashion,” says Rajini Kodialam, Co-Founder of Focus Financial Partners. “Given the size of SmartAsset’s audience, the SmartAdvisor platform clearly has the potential to meaningfully change how advisors approach marketing and business development in the digital age.”

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