WealthTech company Farther has received $15m investment in a Series A funding round, increasing its valuation to $50m.

The latest round was led by Bessemer Venture Partners and saw the participation of a number of new investors including Khosla Ventures and MassMutual Ventures. Existing backers Moneta Venture Capital, Context Ventures, and Cota Capital also joined.

Farther has raised a total of $22m since its establishment in 2019, including the latest round.

The wealthtech plans to use the fresh infusion to support its expansion as well as fuel wealth management innovation.

Farther co-founders Taylor Matthews and Brad Genser said: “As we move forward in our mission to revolutionise the traditional wealth management industry and deliver an unparalleled experience for every client, their support is invaluable.

“The Covid-19 pandemic created a seismic shift in the way that people manage their finances. Legacy institutions suffer from bolted-together technology, fundamentally flawed incentive structures, and costly overhead that too often gets passed on to clients.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“At Farther, every client receives an elite, personalised experience — with advanced technology and expert financial advice.”

In the first six months of this year, Farther grew its assets under management by around four times to more than $250m. The company also expanded its team to more than 50 employees in the same period.

Farther leverages expert advisors’ knowledge and technology to provide customers with end-to-end, personalised experience.

In December last year, Farther was selected by Zoe Financial to offer strategic solutions to customers so that they can manage their wealth related matters.