Betterment Raises $32 Million Series C
By Erin Griffith
On Tuesday the firm said it has raised $32 million in a Series C round of funding led by Northwestern Mutual Capital, with participation from Citi Ventures and Globespan Capital Partners, as well as prior investors Bessemer Venture Partners, Menlo Ventures, and Anthemis Group. The company’s total venture backing is now $45 million.
Betterment’s biggest differentiator is that it offers the financial adviser part of the equation, as well as the broker-dealer part. So consumers can get advice on what to invest in, and actually transact the investment, all from the same company. Others fragment those services.