27 September 2016
Find out more

SmartAsset raises $5.2 million in funding

26 March 2014  |  902 views  |  0 Source: SmartAsset

SmartAsset, a technology platform that provides instant, personalized answers to complex financial questions, today announced that the company has closed $5.2 million in a Series A financing round led by Javelin Venture Partners.

Additional participants in this round of funding include Denis Grosz, SV Angel and Brendan Wallace, founder of Identified.

Launched in 2012, consumers have flocked to SmartAsset's home buying, refinancing, student loan, insurance, retirement and credit card solutions at an extraordinary pace. It is the first personal finance solution that applies powerful financial modeling technology to bring complete transparency to major financial decisions. SmartAsset will leverage this investment to further expand and improve its solution, grow its team and increase current marketing efforts.

"The accuracy and user experience of SmartAsset's tools go way beyond existing resources for financial advice, and their user engagement only confirms the demand for better financial guidance. We're very excited to support their work," said Jed Katz of Javelin Venture Partners, who also serves on the Board of SmartAsset.

With its new funding, SmartAsset plans to expand its team and product capabilities to give users more control of their financial decisions and futures. By year's end, SmartAsset plans to grow the New York-based team by close to a dozen new employees and will be releasing key product components to provide consumers with even more insight into their financial decisions.

"Approximately 70 percent of people report financial decisions as a source of stress. SmartAsset was designed to eliminate that stress through a highly personalized automated decision-making tool," said Michael Carvin, CEO and founder at SmartAsset. "Our dramatic growth proves that better financial advice, and specifically a solution like SmartAsset, is urgently needed. We continue to grow our active user base at a rate of close to 30 percent month-over-month. With this influx of capital, we will be able to expand the team and add new features that we expect to further accelerate growth."

The personal finance platform from SmartAsset was designed to empower people wiith highly personalized information and recommendations around major financial decisions. What launched as a tool for home buying quickly expanded to help consumers make smarter decisions around life insurance, retirement, student loans, refinancing and credit cards. SmartAsset currently helps people answer 79 of life's most challenging financial questions. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Find out moreFind out more

Who is commenting?

A Finextra member Finextra Member Commented on: PSD2 - opportunities,...
A Finextra member Finextra Member Commented on: R3 banks use Intel dis...

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
13569 views comments | 52 tweets | 47 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8636 views comments | 16 tweets | 27 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
8488 views comments | 32 tweets | 17 linkedin
FCA to kickstart sandbox with 24 applicantsFCA to kickstart sandbox with 24 applicant...
7027 views comments | 33 tweets | 15 linkedin
Value chain goes real-timeValue chain goes real-time
6789 views comments | 3 tweets | 3 linkedin

Featured job

Find your next job