Betterment Raises $160 Million
Betterment, the largest independent digital investment advisor with $32 billion in assets under management and nearly 700,000 clients, announced today that it has secured $160 million in growth capital comprised of a $60 million Series F equity round and a $100 million credit facility.
The Series F round was led by Treasury, with participation from existing investors, including Kinnevik, Bessemer Venture Partners, Francisco Partners, Menlo Ventures, Anthemis Group, Globespan Capital Partners, Citi Ventures, and The Private Shares Fund, as well as new investors Aflac Ventures and ID8 Investments. The financing valued the company at nearly $1.3 billion.
