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Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures | Fintech InShorts: Latest fintech news, analysis by experts

Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures

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Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures

August 7, 2024

Funding Round: Savvy Wealth, a US-based wealthtech firm, secured $15.5 million in a Series A-2 funding round led by Canvas Ventures.
Total Series A Funding: This brings Savvy’s total Series A funding to $26.5 million, following an initial $11 million raise in November 2022.
Total Funding: The company has raised over $33 million since its formation in 2021.
Investors: The round included participation from existing investors such as Alumni Ventures, Brewer Lane, Thrive Capital, Index Ventures, and The House Fund.
Use of Funds: The capital will be used to advance the development of Savvy’s proprietary technology platform, strengthen its marketing support through lead generation automation, and expand its engineering, product, and business development teams.
Company Focus: Savvy provides a digital-first wealth management platform for financial advisors, aiming to modernize human financial advice by streamlining CRM, back-office operations, and performance reporting.
Industry Context: The wealthtech sector has seen multiple firms complete Series A funding rounds in Q2 2024, including Turkey’s Midas raising $45 million in April and UK-based Climate X raising $18 million in June.

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