Startup financial firm Betterment receives USD32 million funding round

By Staff Reporter

Apr 15, 2014 05:55 PM EDT

Betterment is a startup firm focused in providing online financial services driven towards better investments through technology. The startup has taken in USD32 million the latest funding round, reported TechCrunch.

The report went on saying that in recent months, financial startups have been receiving significant funds from venture capitalist. Financial services startup firms have been trying to deal with the mess that comes along with the modern financial system, said TechCrunch.

According to a report from the Center for American Progress, the financial market covers deals worth trillions of dollars as the US faces increased critical wealth management issues. This was after only less than 25 percent of Americans have access to a definite retirement plan.

Startups including WealthFront, Personal Capital, SigFig and Betterment are financial services firms that are driven towards getting customers through technology ready savings.

The technology used by Betterment attracted more investors from Globespan Capital Partners, Northwestern Mutual and Citi Ventures. Old investors including Menlo Ventures, Anthemis Group and Bessemer Venture Partners also took part in the Series C funding round.

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