Founded in 2021, NY-based startup Savvy Wealth has raised an additional $15.5 mn as part of its Series A round, bringing the total raised to $26.5 mn led by Canvas Ventures with participation from existing and new investors including Thrive Capital, Brewer Lane Ventures, Index Ventures, The House Fund and Alumni Ventures.
The wealth management startup targets financial advisors with an integrated technology platform and sales and marketing automation.
In less than two years, Savvy has grown its team to 30 advisors who manage over $700 mn in client assets.
The startup also targets consumers with a variety of services and products such as financial planning, tax preparation, alternative investments, estate planning, and insurance.
The startup offers consumers various services, including financial planning, tax preparation, alternative investments, estate planning, and insurance.
Wealth management needs real innovation. After my investments in Future Advisor (acquired by BlackRock) and Check (acquired by Intuit), I awaited a company like Savvy Wealth
Rebecca Lynn, co-founder and general partner at Canvas Ventures
“Their AI technology reduces operational overhead for investment advisors, burdened by outdated processes and extensive administrative work. Ritik Malhotra and his team have a history of building fast-growing businesses, having sold their previous companies to Box and Brex. We are excited to support their growth,” Rebecca Lynn said.
“As advisors seek independence, we see an opportunity to partner with those aiming to provide a modern, tech-driven experience. The human relationship between advisors and clients matters most. Advisors need more time for high-value activities. We provide technology to help advisors transform client relationships and scale their practices exponentially.” – Ritik Malhotra, founder and CEO of Savvy Wealth.
