Betterment Raises $160M in Growth Funding
- Betterment, a NYC-based independent digital investment advisor, secured $160m in growth funding
- The capital was comprised of a $60m Series F equity round and a $100m credit facility
- The Series F round, which valued the company at nearly $1.3 billion, was led by Treasury, with participation from existing investors
- The $100m credit facility was established with ORIX Corporation USA’s Growth Capital group and Runway Growth Capital
- The company is an independent digital investment advisor, offering investing and retirement solutions alongside their everyday services for spending and saving
- According to a written note, the company has $32 billion in assets under management and nearly 700,000 clients
