UNest, a FinTech platform aimed at helping parents invest and save for their children’s future, has scored $26m in its Series B funding round.
The Artemis Fund served as the lead investor, with commitments also coming from Northwestern Mutual Future Ventures, Franklin Templeton, AltaIR Capital, Launchpad Capital, OneWay Ventures and Unlock Venture Partners, among others.
With the capital, the company hopes it can launch new features, including its UNest legacy, which will allow parents to buy individual stocks and cryptocurrencies for their kids.
This funding round comes after a strong year of growth, with key milestones including a partnership with PayPal, getting a dealer license, adding over 300,000 users and acquiring two FinTech companies, Littlefund and Kidfund.
UNest also welcomed NBA All-Star Baron Davis, American actor Laura Dern, and British-Canadian actor Hannah Simone as brand ambassadors.
The WealthTech company claims to differentiate itself from others by having a focus on saving instead of spending. It tries to make deep relationships with families to help them make smart financial moves from birth through adulthood. The company provides customers with a mobile app that helps them invest into a selection of opportunities.
Franklin Templeton head of us marketing Jennifer Ball said, “UNest is addressing an important investment and advice gap.
“Millennials and Gen Z are looking for easier ways to manage their money, and UNest is at the forefront of the digital transformation revolutionising the financial industry. We are excited to embark on this journey with UNest as the company starts a new chapter.”
As part of the deal, Bell will join the UNest board of directors.
The FinTech company formed a partnership with customer-centric life insurance agency Haven Life earlier this year. Through the deal, if a customer has received a quote from Haven Life, they are eligible for a $5 reward into their UNest account.
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