Financial services and insurance service SaaS network provider Gainfully has secured a $2.5m financing round led by MassMutual Ventures.
The company helps to connect financial services and insurance companies together through its compliant, SaaS network. Through the platform users can accelerate and scale businesses by directly connecting to fund families, insurance carriers, industry groups, and their RIA/broker-dealer home office.
Current financial institutions and insurance providers across the US to adopt the Gainfully product include AllianceBernstein, Voya Financial, LPL Financial.
This line of capital will be used by the company to grow its development and customer success teams, in order to support the expansion of its B2B insurance and financial distribution marketplace.
MassMutual Ventures managing director Eric Emmons said, “Gainfully’s permissioned and regulation-compliant network for the efficient distribution of product literature, social media, and other financial content greatly simplifies the interaction between product manufacturers and their many distribution partners.
“With Gainfully, brokers and investment advisors can easily access all materials supporting all the products and manufacturers they represent; manufacturers are likewise able to distribute content to their entire network via a single login.”
MassMutual Ventures recently took part in the $7m Series B funding round in to student loan repayment assistant Tuition.io. The funding will enable the company to boost its sales and customer success teams.
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