Wealth.com’s New Backers Include Venture Capital Arm of Alphabet
The investment validates the firm’s efforts to disrupt the estate planning status quo, CEO Rafael Loureiro says.
Wealth.com, the estate planning technology provider, has secured $30 million in new funding led by GV, the venture capital arm of Alphabet formerly known as Google Ventures.
Other participating investors include Citi Ventures, Outpost Ventures (an investment platform of Neuberger Berman), 53 Stations (supported by the Pritzker Organization) and Firebolt Ventures (headed by technology investor Gokul Rajaram).
The new capital will be used to power Wealth.com’s expansion and product innovation, with the firm aiming to establish itself as a go-to platform for estate planning among financial advisors and wealth management firms.
The funding will also support its planning technology and integration capabilities, as well as the development of features tailored to the needs of advisors and their clients.
“We are on a mission to modernize estate planning through innovative technology,” Rafael Loureiro, CEO at Wealth.com, said in a statement. “This investment validates our efforts to disrupt estate planning while supporting our continued growth and ability to serve an ever-expanding client base.”
Elena Sakach, partner at GV, cited the “great wealth transfer” as an important driver of his firm’s interest in estate planning technology.
“Half of all personal wealth in the U.S. will change hands over the next two decades,” Sakach said. “Clients naturally turn to their trusted advisors for guidance in this important pursuit, and Wealth.com’s unique approach will make it easier for advisors to deliver on their clients’ holistic planning needs.”
Pictured: CEO Rafael Loureiro