San Francisco based financial advisory services company, SigFig, secured $40m in Series C funding, by investors likeSantander InnoVentures,UBS,Eaton Vance,New York Life along with current investors. This round of funding is a testament to the company's belief that partnering with large financial institutions is the best way to provide financial advisory tools to investors who need them.
Through the company’s direct asset management platform, SigFig manages a pretty paltry $100 million. But the real business, says Sha, is in the services it provides to financial services firms. He was mum about how much the company manages through those deals, but said that revenue for the company is still based on a calculation of assets under management.