Vestwell Raises $125M in Series D Funding

Vestwell, a NYC-based employer and individual savings platform, raised its Series D round, totaling $125m.

The round was led by Lightspeed Venture Partners with participation from existing investors Fin Capital, Primary Venture Partners, and FinTech Collective, as well as Blue Owl and HarbourVest. As part of the round, Lightspeed’s lead fintech Partner, Justin Overdorff, joined Vestwell’s board of directors.

The company will use the funding to continue its rapid expansion across the country, and focus on state-savings program initiatives while developing other savings program initiatives for the partners, employers, and savers utilizing Vestwell.

Founded in 2016 by Aaron Schumm, CEO, Vestwell is an employer and individual savings platform which enables a suite of programs, including retirement, health, and education, such as 401(k), 403(b), IRA, 529 Education, ABLE disability, and Emergency Savings programs. Today, the company enables over 300,000 businesses, and well over a million active savers, with nearly $30 billion in assets saved in all 50 states.

Vestwell, a NYC-based employer and individual savings platform, raised its Series D round, totaling $125m. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.

Shishir Gupta, The Founder & CEO of StartupLanes

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