Robo advisory FinTech Betterment has reached a valuation of $1.3bn.
In Brief:
The valuation follows the company securing $160mn in growth capital.
- It includes a $60mn Series F equity round and a $100mn credit facility.
- The Series F round included Treasury, Anthemis Group, Citi Ventures and more.
What does this mean?
Betterment offers a suite of automated investing and saving solutions. CEO Sarah Levy said the funds will be used to “further cement our category leadership with rapid innovation on top of our already differentiated product suite and unique, multi-pronged distribution model that serves retail investors, advisors and small businesses."
