FutureAdvisor, a San Francisco, CA-based digital investment manager, raised $15.5m in Series B funding.
The round was led by Canvas Venture Fund with participation from existing investors Sequoia Capital.
The company intends to use the funds to expand the business.
Founded in 2010 by Bo Lu and Jon Xu, two former Microsoft engineers, FutureAdvisor is a registered investment advisory firm serving clients nationwide. Its team of Chartered Financial Analysts and Math PhDs use software to actively monitor and manage clients’ existing 401(k), IRA, and taxable accounts from a household-wide, long-term perspective and make step-by-step actionable recommendations on which assets to buy or sell in order to minimize their fund fees, optimize their taxes and diversify their risk.
In its paid service, FutureAdvisor executes those trades on behalf of investors.
The company, which graduated from the startup accelerator Y Combinator, has raised a $1m seed round, and a $5 million Series A led by Sequoia Capital in 2012 (read here).
FinSMEs
21/05/2014