Vise Raises $65M Series C Funding

Vise Secures $65 Million in Series C Funding

Vise has recently announced the completion of a $65 million Series C financing round. This investment was spearheaded by Ribbit Capital, with contributions also coming from existing investors, notably Sequoia.

The company has confirmed to TechCrunch that this funding round has officially elevated Vise to unicorn status, achieving a post-money valuation of $1 billion.

Early Growth and Funding

Vise initially launched on the Disrupt Startup Battlefield stage in 2019. Since then, the startup has successfully raised over $125 million in funding.

AI-Powered Platform for Financial Advisors

Vise utilizes an AI-powered platform designed to equip independent financial advisors with data resources comparable to those available in larger advisories with dedicated analyst teams.

The core objective, as previously articulated by co-founder and CEO Samir Vasavada, is to empower independent advisors to prioritize client relationship building. This is achieved by automating the complex calculations involved in portfolio construction.

Empowering Humans Through Technology

The underlying principle of Vise is to leverage technology to enhance human capabilities, rather than replace them. This approach aims to modernize an industry characterized by traditional practices.

Ultimately, the company strives to “enable financial freedom for everyone.”

Scaling Infrastructure and Assets

According to Vasavada, a key focus is building a platform capable of managing hundreds of millions, even billions, of dollars in assets automatically. This necessitates significant technical infrastructure development, particularly in trading systems and go-to-market strategies.

Since the Series B funding round, Vise has experienced a fourfold increase in assets under management, reaching $250 million. Simultaneously, the number of client accounts has more than doubled.

Strategic Leadership and Team Expansion

The company’s growth trajectory has accelerated with the appointment of Andrew Fong as CTO. Fong previously held the position of VP of Infrastructure Engineering at Dropbox.

His career at Dropbox began in 2012 as a site reliability engineer, progressing through roles such as engineering director and senior director of engineering, before ultimately becoming a vice president.

Fong’s primary responsibility is to scale the engineering department, a continuing priority for the company. Vasavada emphasized that a strong foundation is crucial for both product and company expansion.

Fintech Investment Trends

This funding round aligns with the generally optimistic trend in the fintech investment landscape observed by TechCrunch on a global scale.

Upcoming Discussion on Extra Crunch Live

Vise’s Vasavada and Sequoia’s Shaun Maguire will be featured guests on Extra Crunch Live tomorrow afternoon. They will discuss the financing agreement, the factors that attracted Sequoia to Vise, and their success within the fintech sector.

Maguire and Vasavada will also provide feedback on live pitches from startups in attendance.

Registration for Extra Crunch Live at 3pm ET/noon PT is available here.