Facet, an American Fintech firm focused on financial planning, has secured an additional $35 million in a funding round anchored by Multiplier Capital.
The new funding will support the company’s ongoing tech development and expansion of financial planning services as it continues to grow its client base and enhance the member experience.
Founded in 2016, Facet has raised approximately $210 million to date, with a business model that offers personalized financial advice through a flat membership fee, rather than the traditional assets under management (AUM) model.
This subscription-based approach has attracted over 14,000 households nationwide, the company said.
Facet aims to provide affordable and unbiased financial guidance, targeting individuals often overlooked by conventional financial service providers.
The company has garnered several accolades, including recognition in Real Simple’s 2023 Money Awards and NerdWallet’s “Best Online Financial Planning Service.”
Facet was also named in TIME’s 2024 Time Stamped Best Financial Advisors. Its success is attributed to its technology-driven platform, which pairs clients with certified financial planners, offering tailored advice without asset minimums.
Multiplier Capital, a prominent provider of flexible financing solutions, led the latest funding round. Other participants included Warburg Pincus, Audacious Capital, and additional investors.
The funding will enable Facet to advance its mission of redefining financial planning and expand its services to reach a broader audience.
Facet has been recognized for disrupting the traditional financial services model by offering a more accessible and personalized service.
It has appeared on the Inc. 5000 list of America’s fastest-growing private companies twice and continues to grow in the financial planning space.
The company operates as a national SEC-Registered Investment Advisor (RIA) and remains committed to providing comprehensive financial advice tailored to individual needs.