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Bank Innovation

2016 Innovators to Watch: 36 to 40

By Diana Asatryan

Robo-advising is hot right now with new companies popping up, it seems like, every day. But Betterment is only getting hotter. The investment platform’s CEO Jon Stein is not intimidated by the competition, quite the contrary: the more incumbents know about robo-advisory, the more customers Betterment gets, he said. With $205 million in total funding, from investors like Citi Ventures or Kinnevik, and at a $700 million valuation, Betterment is now aiming to manage more than just customers’ investments: Stein wants his company to be the “central financial relationship” for his customers, he said. “We don’t want to be a backend for another company, not have that branded in another way. We are partnering with institutions that have services that will complement ours in the future, such as loans and insurance.”

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This article originally published June 23rd, 2016 on Bank Innovation