Pontera, a fintech company whose platform enables financial advisors to manage clients’ 401(k)s and other held-away assets, said it has secured $60 million in funding in a round led by Iconiq Growth.
The round raises Pontera's total funding to $160 million, the firm said in a statement. The latest round also included prior investors Blumberg Capital, Collaborative Fund, Hanaco Ventures, Lightspeed Venture Partners and The Founders Kitchen.
Pontera says its platform that it says gives advisors a way to securely analyze, rebalance and monitor clients’ assets in retirement accounts and other held-away assets, and to do so compliantly.
"We are proud to support the Pontera team as they empower advisors to help their clients feel more financially secure and retire with greater wealth," Yoonkee Sull, general partner at Iconiq Growth, said in the statement. "Pontera is addressing a growing market need with a solution that benefits the entire retirement ecosystem through a proven approach for financial advisors to compliantly and more effectively manage workplace retirement assets."
Pontera says thousands of advisors now use its platform to manage clients’ held-away assets.
Big advisory firms that have signed on with Pontera include SageView Advisory Group, Dynasty Financial, SignatureFD and Savant.
"It's one of those rare moments in time where if you implement a new capability everyone wins, from the client to the advisor," Shirl Penney, president and CEO of Dynasty, said in the statement.
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