Wealthtech Farther announced raising $15 million in a Series A funding round, which was “led by Bessemer Venture Partners and included Khosla Ventures and MassMutual Ventures as new investors.”
They join existing investors, Moneta Venture Capital, Context Ventures, and Cota Capital. The investment round “brings the total amount raised since Farther’s founding in 2019 to $22 million and boosts its valuation to $50 million.”
Farther is “a new kind of financial institution: combining expert advisors and cutting-edge technology to deliver a comprehensive, personalized client experience.”
The Series A funding will “facilitate Farther’s continued growth and innovation in the wealth management space.” Founded by Taylor Matthews and Brad Genser, Farther claims (like many other firms) it is “on an exponential growth trajectory.”
In the first half of 2022 alone, Farther nearly “quadrupled its assets under management to over $250 million and doubled its staff size to over 50 employees across the country, including advisors, engineers, and product team members.”
Farther Co-Founders Taylor Matthews and Brad Genser, commented:
“We are delighted to have the deep industry experience that our investors bring to Farther and our clients. As we move forward in our mission to revolutionize the traditional wealth management industry and deliver an unparalleled experience for every client, their support is invaluable. The COVID-19 pandemic created a seismic shift in the way that people manage their finances. Legacy institutions suffer from bolted-together technology, fundamentally flawed incentive structures, and costly overhead that too often gets passed on to clients. At Farther, every client receives an elite, personalized experience — with advanced technology and expert financial advice.”
Charles Birnbaum, Partner at Bessemer Venture Partners, said:
“At Bessemer, we have a long and successful history of investing in innovative models in the wealth management industry. We are thrilled to be backing the Farther team, as they continue to build a leading firm for wealth advisors to serve their clients – using the most powerful technology platform on the market.”
Farther’s growth and successful Series A round are also “enabling robust new partnerships on an ongoing basis.”
The firm is constantly innovating the world-class Farther technology platform “to build new offerings that connect clients with diverse investment opportunities in one, convenient location.”