Facet Wealth gains funding for financial wellness

Facet Wealth, a FinTech offering personalised financial advice, has raised $100m in Series C funding led by Durable Capital Partners.

The round also saw participation from previous investors Warburg Pincus, TeleSoft Partners and Green Cow Venture Capital.

Founded in 2016, Facet’s mission is to empower its customers through personalised and unbiased financial advice. The company pairs its customers with their own certified financial planner who meets them one-to-one to integrate financial planning into their life, at what Facet said is an “affordable subscription price.”

Facet wealth raised $25m in its Series B round in 2020. The company said it has grown by ten times since then, and this new round of funding will be used primarily to continue to fuel that trajectory. Facet will also make investments across its technology and product suite, and client experience.

Anders Jones, CEO and co-founder of Facet, said, “To the vast majority of consumers, our industry is an inaccessible sea of sameness that traditionally only serves the wealthy. Facet is creating a new era of consumer-centric financial advice, in which generations of people live happier and fuller lives.

“Today’s financial advice is poorly designed, and the incentive model many firms use is completely misaligned with people’s needs. We have created a new standard for what financial planning should be and are determined to take the entire industry with us.”

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