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Pontera, the know-how supplier identified for offering safe instruments for managing held away property in 401(okay)s, 403(b)s and HSAs, introduced this week it raised an extra $60 million in capital led by new investor ICONIQ Development.
Earlier traders Blumberg Capital, Collaborative Fund, Hanaco Ventures, Lightspeed Enterprise Companions and The Founders Kitchen additionally participated within the recent spherical.
The newest funds brings Pontera’s whole capital raised to $160 million.
ICONIQ Development is probably finest referred to as the enterprise capital and personal fairness investing arm of ICONiQ Capital, the investing and household workplace with a raft of well-known know-how principals together with Fb—now Meta—founder Mark Zuckerberg, Twitter’s Jack Dorsey and LinkedIn CEO Jeff Weiner.
The agency has a various funding portfolio of dozens of firms that vary throughout the patron, healthcare and FinTech sectors. These embrace such well-known manufacturers as Airbnb, Flipkart, GoodRx, Snowflake, Wayfair, Warby Parker, Uber, and Zoom, in addition to Invoice.com, Clara, Robinhood and Wealthsimple on the monetary providers facet.
In line with Pontera, hundreds of monetary advisors now use the agency’s platform to securely handle 401(okay), 403(b) and different retirement plan property for finish shoppers. Accessing these accounts was historically, tough and advisors routinely have been pressured to make use of shoppers’ private login credentials.
The Pontera platform is client-permissioned however advisors don’t retain the credentials, giving them the flexibility to research and rebalance retirement plan accounts and different held-away accounts.
Pontera has integrations with most of the largest portfolio administration and reporting platforms, together with Addepar, Advyzon, Envestnet | Tamarac, GeoWealth, Morningstar Workplace, Orion, SS&C (Black Diamond Wealth Platform, APX, Axys and Geneva), and others.
Amongst Pontera’s person base are advisors at Benjamin Edwards, Carson Group, CoastalOne, Dynamic Advisor Options, Dynasty Monetary Companions, OneDigital, Precedence Monetary Group, SageView Advisory Group, Savant Wealth, Wealthspire and others.
Beforehand referred to as FeeX, the agency underwent a pivot in February 2022 from its roots as a direct-to-consumer play identified primarily for its automated 401(okay) evaluation know-how into an enterprise providing as Pontera.
The agency additionally at the moment introduced it had raised $80 million led by Lightspeed Ventures.
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