Micruity, a San Mateo, Ca-based financial technology infrastructure company, raised $5.0M in strategic funding.
Backers included Prudential, State Street Global Advisors, and TIAA Ventures, as well as additional investments from current partners Pacific Life and Western & Southern Financial Group.
The company intends to use the funds to expand support for accumulation annuities and non-guaranteed income products on its platform.
Led by CEO and Founder Trevor Gary, Micruity is a financial technology infrastructure company building the data rails for the pension plan of the future. The Micruity Advanced Routing System (MARS™) facilitates data sharing between life insurers, asset managers, and recordkeepers through a single point of service that lowers the administrative burden for plan sponsors and enables them to turn retirement savings plans into retirement income plans at scale.
FinSMEs
25/06/2024