OneVest, a comprehensive wealth management technology platform, announced the closure of a $20 million USD Series B equity funding round.
Read also – D3 Raises $25Mn Series A Funding Led by Paradigm
The round was led by Salesforce Ventures, with participation from new investors, Allianz Life Ventures and TIAA Ventures. Returning investors include OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners.
Read also – Medsender Secures $5Mn in Series A Funding
“We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies. Having such esteemed investors solidifies our position to reimagine wealth management technology for enterprises across the U.S. and Canada,” says Amar Ahluwalia, CEO of OneVest. “With this new funding, we are poised to achieve our goal of becoming the leading wealth management platform in North America.”
“OneVest is at the forefront of transforming wealth management technology by providing institutions with the tools needed to deliver personalized and scalable solutions,” said Zak Kokosa, Senior Associate, Salesforce Ventures. “We’re excited to support OneVest as they continue to set the standard for innovation in an industry poised for tremendous growth.”
The wealth management market is undergoing unprecedented change. An estimated $84 trillion will be transferred from Baby Boomers to their Gen X and Millennial heirs over the coming decades, and OneVest’s innovative platform is uniquely positioned to help enterprises adapt to these seismic shifts.
OneVest’s cutting-edge platform is designed modularly and flexibly, allowing firms to roll out their full end-to-end solution, while large enterprises—including banks, Registered Investment Advisors (RIAs), asset management firms, and insurance companies—are able to pick and choose specific modules to modernize their wealth programs. Customers can save implementation time and cut down significantly on the cost of using various legacy vendors and manual processes. Additionally, the platform is highly configurable, enabling customers to offer tailored hybrid experiences for investors, and empower advisors to gain greater control and insights over their books of business.
About OneVest
OneVest is a financial technology company on a mission to power the world’s wealth. It offers an end-to-end wealth management platform, from client onboarding, to portfolio management, to analytics and beyond. OneVest’s software was built to be modular, allowing financial institutions to fill gaps in their process depending on their needs.
