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Funding
Savvy Wealth raises USD 15.5 million in Series A extension to support product development and growth
FinTech Infrastructure
Aug 5, 2024
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FinTech Infrastructure

FinTech Infrastructure

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Aug 5, 2024

Savvy Wealth raises USD 15.5 million in Series A extension to support product development and growth

Funding

  • Savvy Wealth, an investment management platform for wealth managers and advisors, has raised USD 15.5 million in a Series A extension led by Canvas Ventures. It closed its Series A funding after raising USD 26.5 million. Thrive Capital, Brewer Lane Ventures, Index Ventures, The House Fund, and others also participated. Savvy Wealth's total funding now stands at over USD 33 million.

  • The funding will be used to support the development of its platform, expand its product and engineering teams, and recruit entrepreneurial advisors for its national affiliate registered investment advisor, Savvy Advisors.

  • Savvy Wealth aims to exceed USD 1 billion in assets under management by the end of this year.

  • Analyst QuickTake: In recent months, the FinTech infrastructure space has witnessed extended Series A funding, with BaaS infrastructure provider Griffin raising USD 24 million , banking infrastructure provider Synctera raising USD 18.6 million, and investment infrastructure provider WealthKernel raising ~ USD 7.6 million , earmarked for product development and growth.

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