Personal Capital, a hybrid wealth management platform, raised another $40 million and it now brings their total funding to $200 million; this Series E round was led by IGM Financial, part of the Power Financial Corporation group of companies, with participation from other existing investors; they plan to use the new capital to expand product offerings, increase their marketing spend and build up their advisory service; they also plan to move into San Francisco and Denver, building on the markets they currently are in which include Dallas, Atlanta, New York, Greater Los Angeles and Chicago. Source
Personal Capital is looking to compete with banks offering high yield accounts; the new offering called Personal Capital Cash offers...
After an initial $50 million investment in Personal Capital, IGM Financial has invested an additional $25 million in the company; the $25 million was contingent on an assets under management goal which they have now surpassed; the company has added $1.5 billion under management in the last year bringing their total to $3.4 billion; this amounts to 80% growth; valuation of the company is approximately $500 million. Source
Personal Capital is a personal financial management tool that launched ten years ago; the company saw 23% annualized growth in...
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Personal Capital is now offering services to employers in a move to grow their user base; the digital wealth platform...
Hybrid digital wealth management firm Personal Capital now has $5 billion of assets under management (AUM) after accelerating growth with $2 billion in AUM added in 2017; Jay Shah, CEO of Personal Capital, tells Robo Advice News, "For investors with complex financial lives or for those who are just too busy to manage their own investments, we take the time and worry out of building an investment strategy."; new investors now invest $395,000 as compared to $289,000 since the start of the year, a 37% increase; the company has also launched a number of new features and closed a $40 million Series E round. Source
Personal Capital is a free app that allows individuals to track their financial life by connecting accounts including bank accounts, credit cards and investment accounts; the app is now tracking $4.9 billion and according to their CEO, Jay Shah, their customer base is increasingly affluent; the company upsells their app users on financial advice and is providing a dedicated financial advisor if users have over $200,000 of investable assets; Shah answers several questions in an interview with Business Insider including their pitch to users, who their paying users are, why he thinks users will pay for the service and where the company is headed. Source
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