NewRetirement, secures $20million in series A round funding. a digitally first financial planning platform for enterprise partners and consumers.
Allegis Capital led the fundraising round, which was followed by Fin Capital, Nationwide Ventures, Cameron Ventures, Marin Sonoma Impact Ventures, Northwestern Mutual Future Ventures, Plug and Play Ventures, Motley Fool Ventures, Ulu Ventures, and Frontier Venture Capital. The overall funding amount was $20.8 million.
The business plans to use the money to improve R&D efforts to benefit its user base, develop enterprise products, scale onboarding and support for additional partners, merge LLMs and AI to provide more individualised suggestions, and increase capacity to meet demand.
Under the direction of its founder and CEO, Stephen Chen, NewRetirement is a financial planning platform that enables users to identify, create, and oversee individual pathways to a stable future.
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Partners might choose to white-label or co-brand the platform. As a self-directed financial wellness benefit, employer plan sponsors and plan providers can provide their staff with NewRetirement’s planner, calculators, and training workshops.
The company’s planner, calculators, advisor tools, and APIs may be used by banks, insurance firms, and wealth managers to create a white-labeled or co-branded platform that will allow them to retain assets, take advantage of new business models, and increase income from more engaged customers.
About NewRetirement
NewRetirement offers financial advisors, businesses, and consumers a collaborative financial planning solution. The extensive planning and modelling engine, which is based on AI technology, takes millions of situations into account and allows users to perform thorough accumulation and decumulation planning at scale.
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