Congrats to FinTech Collective portfolio company, NextCapital, on raising $16m in Series B funding led by new investors AllianceBernstein and John Hancock parent Manulife. The company's software helps mutual funds and asset managers provide automated, customized investment advice to individual clients by providing tools for portfolio tracking, planning, savings advice and portfolio management. This funding is going to allow NextCapital to build new products and implement new partnerships. Kudos!
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NextCapital raises $16 million from mutual fund heavyweights
NextCapital got its start in 1996 as Business Logic. Altogether, the 19-year-old company has raised $22 million from investors that include Transamerica Ventures, Russell Investments, FinTech Collective, Kelvingrove, and Vermont Seed Capital Fund. In mid-2014 the company raised $6 million. NextCapital is benefiting from the continued shift away from pensions to 401(k) plans and individual retirement accounts.
