computerized funding service Betterment Raises $a hundred Million

Betterment, a startup that automatically invests cash on its users’ behalf, announced on Tuesday that it has raised $one hundred million at a $seven-hundred million valuation.

the company now manages nearly $four billion on behalf of a hundred and fifty,000 buyers, to whom it costs a .15% to .35% annual rate for the carrier.

CEO Jon Stein instructed fast firm that his goal is to make Betterment the valuable dashboard from which customers handle their budget, including non-investment aspects that the startup does not currently manage, like scheduling payments for rent.

Swedish investment company Kinnevik led the financing, which contains participation from previous traders Bessemer challenge partners, Menlo Ventures, Anthemis team, and Francisco partners. Betterment has raised $205 million up to now.