Index Ventures, Greylock Partners and the Social+Capital Partnership have just made financial advisory service Wealthfront $20 million wealthier.
Joined by angel investors from institutions as diverse as WordPress and the San Francisco 49ers professional football team, the funding round provides a significant shot in the arm to a start-up still seeking to distinguish itself in a crowded and growing marketplace.
Wealthfront is an online, SEC-registered financial advisory service geared toward average, non-accredited investors who want actively managed accounts. The service includes such features as tax-loss harvesting (for accounts above $100,000) and automatic rebalancing. Note that both of these features are often accessible only through in-person, human brokers and financial advisors.
The company has seen growth in assets under management of more than 70% since 2013, totaling more than $170 million.
Wealthfront first appeared on the Finovate stage as part of FinovateStartup 2009. Then doing business as “kaChing”, the company presented their virtual investing environment. To see their demo, click here.