FinTech News
Estate Planning Platform Wealth.com Raises $30 Million
A FinTech that helps modernize estate planning processes has raised a new round of funds.
About the round:
This week, Wealth.com announced that it raised $30 million in its latest funding round. The Series A was led by GV (formerly known as Google Ventures) and included participation from Citi Ventures, Outpost Ventures, 53 Stations, and Firebolt Ventures. Previously, the company raised a $16 million seed round in 2022.
In a press release, Wealth stated that the latest funding will be used toward fueling the platform’s continued expansion as well as product innovation. Additionally, the company says the capital will help it in “further establishing its position as the go-to platform for estate planning among financial advisors and wealth management firms.”
About Wealth.com:
Wealth.com is an estate planning platform built for advisors to better serve their clients. Among the services the company can assist with are last will and testaments, advanced health care directives, guardianship nominations, and more. The site also works with a network of attorneys to help advisors navigate nuanced state laws and client customizations.
According to Wealth, its platform is currently used by more than 500 wealth management firms. Recently, the company also launched its Family Office Suite geared toward high-net-worth and “ultra-high-net-worth” clients. Using the suite, advisors can not only get a visualization of estate assets but also assist clients in optimizing tax planning and more.
What they’re saying:
Commenting on the vision for the company and how this funding round will further its goals, Wealth.com CEO Rafael Loureiro said, “We are on a mission to modernize estate planning through innovative technology. Accompanied by this extraordinary group of investors, we’re not only prepared to achieve this vision—we’re already delivering results.”
Loureiro added, “Our platform has streamlined and unlocked access to estate planning for thousands, highlighting the generational change we’re driving in the industry. This investment validates our efforts to disrupt estate planning while supporting our continued growth and ability to serve an ever-expanding client base.”
Additionally, GV partner Elena Sakach said of Wealth.com, “Half of all personal wealth in the US will change hands over the next two decades. As we navigate the largest wealth transfer in history, the need and opportunity for estate planning solutions has arguably never been greater. Clients naturally turn to their trusted advisors for guidance in this important pursuit, and wealth.com’s unique approach will make it easier for advisors to deliver on their clients’ holistic planning needs. We’re excited to support wealth.com’s founding team in this next growth phase, and I look forward to joining their board.”
My thoughts:
I’m not sure that I would have guessed that a business such as this would have the URL “Wealth.com,” but I suppose it makes sense overall. The platform sounds like a truly useful tool for advisors and clients alike — which is why I’m not surprised to see them raising such a significant Series A as it looks to further expand its reach.
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