Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures
US-based wealthtech Savvy Wealth has secured $15.5 million in a Series A-2 funding round led by Californian VC Canvas Ventures.
Savvy lands $15.5 million Series A-2 funding
The round saw additional backing from existing investors Alumni Ventures, Brewer Lane, Thrive Capital, Index Ventures, and The House Fund.
The latest capital infusion takes the company’s total Series A funding to $26.5 million following an initial $11 million raise back in November 2022. Savvy’s total funding to date now stands at over $33 million since its formation in 2021.
According to a post on the company’s LinkedIn, the funds will be used to advance the development of its proprietary technology platform for advisors and their clients.
Moreover, the latest funds will be used to strengthen Savvy’s marketing support engine through lead generation automation and “in-house expertise”. The start-up also intends to expand its engineering, product, and business development teams.
Headquartered in New York, Savvy provides financial advisors with a digital-first wealth management platform “centred around modernising human financial advice”.
The company’s software aims to drive automation and efficiency for wealth managers by streamlining CRM, back-office operations, and performance reporting.
Q2 2024 saw several firms in the wealthtech sector complete Series A funding rounds. Notably, Turkey’s Midas raised $45 million in April, while UK-based Climate X raised $18 million in June.
