May - 2016 - issue > Venture Beat

San Francisco-based SigFig Scores $40 Million in Series C Round

si Team
Friday, June 3, 2016
si Team
SigFig, an independent wealth management technology firm, notifies the closure of its $40 million series C round. This includes $33 million in equity financing led by Eaton Vance, followed by New York Life, Santander InnoVentures, and UBS, as well as existing venture capital investors Bain Capital Ventures, DCM Ventures, Nyca Partners, and Union Square Ventures, and Comerica Bank providing a new $7 million credit facility to extend and expand the previous facility. This financing brings SigFig's total funding to more than $70 million till date.

Leveraging the fresh funds, SigFig intends to expand its team and technology platform as it scales its enterprise strategy of building investment technology for a wide range of financial institutions based on those firms' distinct corporate strategies and individual client needs.

Speaking on the occasion, Mike Sha, CEO, SigFig says, "Our business-to-business strategy of partnering with some of the largest financial services companies in the world will help us rapidly scale and achieve our mission of giving all investors, large and small, access to high quality unbiased financial advice. We are very pleased to have the backing of these institutions and the continued support of several of the most respected venture capital firms in the world".

Since its inception in 2008, SigFig is dedicated to making high-quality investment advice more accessible and affordable to investors of all wealth levels. Using a combination of design, data science, and technology, SigFig helps empower investors with the information and guidance they need to achieve their personal financial goals.

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