NewRetirement Raises $20M Series A

NewRetirement, a San Francisco, CA-based comprehensive, digital-first financial planning platform for consumers and enterprise partners, closed its Series A round with $20m in funding.

The round was led by Allegis Capital and joined by Ulu Ventures, Nationwide Ventures, Fin Capital, Frontier Venture Capital, Cameron Ventures, Marin Sonoma Impact Ventures, Northwestern Mutual Future Ventures, Plug and Play Ventures and Motley Fool Ventures, bringing the total funding to $20.8m.

The company intends to use the funds to expand its enterprise offerings, scale onboarding and support for new partners, enhance R&D efforts aimed at helping its user base, integrate LLMs and AI to provide more personalized recommendations, and build capacity to meet the demand.

Led by Stephen Chen, Founder and CEO, NewRetirement is a financial planning platform that gives people the ability to discover, design and manage personalized paths to a secure future.
The platform can be co-branded or white-labeled for partners. Employer plan sponsors and plan providers can offer NewRetirement’s planner, calculators, and educational classes to their employees as a self-directed financial wellness benefit. Wealth managers, banks, and insurance companies can utilize the company’s APIs, planner, calculators, and advisor tools to develop a white-labeled or co-branded platform, enabling them to leverage new business models, retain assets, and drive revenue with more engaged consumers.