Financial planning fintech Facet raises $35m funding round
Facet has secured $35 million in a fresh round of funding, taking the US-based financial planning fintech’s total raised to $210 million.
Facet lands $35 million funding round
The round was led by venture capital firm Multiplier Capital and supported by, among others, Audacious Capital and Warburg Pincus, which recently made a $100 million investment in Brazilian paytech Matera in July.
The fintech’s current backers also include Durable Capital Partners, Slow Ventures, Telesoft Partners and Green Cow Venture Capital.
The cash injection has been designated for advancing “key initiatives” across Facet’s financial planning services and technological development.
Founded in 2016, Facet operates as an SEC-Registered Investment Advisor (RIA), providing financial planning and advice to those “often overlooked by traditional financial services firms” through its tech-driven platform.
The fintech connects individuals with certified financial planners who provide personalised advice covering various aspects of finance.
Facet’s service, which has no asset minimums and is offered at a flat membership fee, currently serves over 14,000 households across the US.
Facet is among several fintech companies that secured investment this month, joining the ranks of Zepz, TrueLayer, and US-based Logik.io, which specialises in configure, price and quote (CPQ) solutions and which raised $25 million in Series B funding this week.
