The Baltimore-based Fintech enterprise Facet Wealth gained USD 25 million as an investment on 30th September 2020 in its Series B funding round led by the global investment VC Warburg Pincus and a few other investors’ participation.
The funding story
The massive growth of financial wellness for the employees probably convinced the billion-dollar Venture Capital Warburg Pincus to invest in the potential of Facet Wealth. After its first raised investment two years back, the team of Facet Wealth has proved its abilities and power to meet the unique customer need and expand its services to raise an innovative business model that works for improving client experience. And with its expansion in the employer market, the company is all set to define its name for being strong enough to revolutionize the wealth management industry in the coming years!
Growth of Facet Wealth
In response to its massive product growth in the market, the company has planned to use the investment to accelerate market expansion. Facet wealth is a company engaged in providing financial planning services focused on the long term and strong relationships between the financial planning professionals and their clients. The company is also into providing Financial Wellness services for employers who are willing to empower their employees with financial guidance. The company already has pre-launch associations with renowned employers like MyVest, Chili Piper, and ClassPass.
About Warburg Pincus
The Private Equity firm Warburg Pincus is headquartered in Northeastern US (New York) and has offices in major cities, including London, Beijing, Hong Kong, Huston, Mauritius, San Francisco, Mumbai, Shanghai, Luxembourg, and Singapore. The leading Venture Capital was founded in 1996 and has a total of 21 funds and 43 acquisitions as per now. It has made 331 investments in various sectors to build durable companies. With the investment of around US$68 billion in over 825 companies, it has its legacies spread in 40 countries. The recent investments of the company are Infoblox, GA Foods, and Infoniqa.
About Facet Wealth
Facet Wealth was founded in 2016 by Brent Weiss; it is presently headquartered in Baltimore, Maryland in the United States. It has raised US$62 million in funding to date from Slow Ventures, Warburg Pincus, and some other partners. The company is focused on simplifying the financial planning process with its wealth management services. Facet Wealth offerings include portfolio management, personalized goal planning, and financial life planning enabled within a subscription-based model, helping their customers get comprehensive financial security at a manageable cost.
