FinTech FIDx nets growth funding


FIDx, an integrated technology platform that connects financial professionals to leading insurance firms, has raised an undisclosed amount of growth funding.

The round was led by Prudential Financial, and Global Atlantic, with participation from Envestnet.

Founded in 2017, FIDx is a technology-empowered network that integrates the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers.

Motivated by its mission to expand the frontiers of the wealth management space and provide holistic solutions to address investors’ changing needs, FIDx enables advisors to offer guaranteed income and downside protection as core components of their clients’ portfolios—integrated within the same wealth management platforms they already use every day.

FIDx claims it is providing a modern solution to bridge advisory firms to insurance carriers so advisors can truly deliver comprehensive advice, enabling their clients to achieve retirement security.

FIDx currently has relationships with 17 insurance companies, and $24 billion in assets on its platform.

According to FIDx, it intends to use the newly raised capital to bring its platform and services to new markets and distribution channels.

ZSuite Tech, a FinTech firm that powers financial institutions with unbound digital accounts, has recently bagged $11m in its Series A.

The company covers unbound digital accounts that encompass escrow, subaccounting, sub-ledgering, FBO and trust accounts for commercial customers.

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