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SmartAsset Scoops Up $28 Million in New Funding

New York-based fintech SmartAsset, which provides personalized, automated financial solutions, has raised $28 million in new funding. The Series C round takes the company’s total equity capital to more than $51 million and featured the participation of Focus Financial Partners, Javeline Venture Partners, TTV Capital, IA Capital, and Citi Ventures, as well as other investors.

The company will use the investment to build its audience as well as expand its platform to help more people improve their finances and connect with qualified personal financial advisors.

“This investment will accelerate our mission of becoming the web’s premier resource for personal finance tools and content,” SmartAsset CEO and co-founder Michael Carvin said. “In doing so, SmartAsset will become the largest marketplace for investors trying to find financial advisors and advisors trying to meet new prospective clients.”

More than 45 million people use SmartAsset’s personal finance information and online resources every month. The company’s automated financial modeling software, demonstrated live at FinovateSpring, powers SmartAsset’s tools, financial calculators, and data-driven research and content to give consumers information on personal finance topics ranging from planning for a first-time home purchase or saving for retirement.

SmartAsset also helps individuals find the right financial advisor based on their specific needs. By answering a series of questions – your location, your preferred retirement timeline, how you currently manage your money, and so on – SmartAsset can assess the individual’s general investment preferences and goals and provide up to three recommendations for financial advisors. All of SmartAssets’ recommended advisors are carefully vetted and registered with the SEC or appropriate state regulator.

A finalist for the 2018 Benzinga Fintech Awards, SmartAsset announced a partnership with CRM software provider Wealthbox in April to integrate its SmartAdvisor lead generation solution into the Wealthbox platform. In February, SmartAsset teamed up with America Saves and the American Savings Education Council to promote positive savings behavior during America Saves Week.