![]() ![]() That’s when I realized that the same models I was using to drive complex financial transactions for businesses could help to improve personal finance decision-making for all Americans. ![]() Leveraging my professional background, I developed financial models to determine if I was ready to make the leap to homeownership and exactly how much house I could afford. In particular, the available tools and calculators provided bad answers and a terrible user experience. When trying to determine whether to buy a home or continue renting, I found the information online sorely lacking. SmartAsset was inspired by my own home buying experience back when I was working in finance. Our in-house team does the work of locating, validating, and matching leads, so that advisors can maximize the time that they spend with their clients. Building on SmartAsset’s relationship with millions of investors, SmartAdvisor connects financial advisors directly with consumer prospects who meet their ideal client profile. SmartAsset is a leading source of personal finance content, tools, and calculators and also the largest client acquisition platform (SmartAdvisor) for financial advisors in America. Tell us about the product or service that SmartAsset offers. The round was led by existing investor TTV Capital with participation from Javelin Venture Partners, Contour Venture Partners, Citi Ventures, New York Life Ventures, North Bridge Venture Partners, and CMFG Ventures. We raised a $110 million Series D round, valuing SmartAsset at over $1 billion. Who were your investors and how much did you raise? The company, founded in 2012, now handles over 100M customer interactions per month, is responsible for originating $1.5B in new assets under management for advisors per month, and is nearing $100M in ARR.ĪlleyWatch caught up with Cofounder and CEO Michael Carvin to learn more about the path to building one of NYC’s newest unicorns, the company’s strategic plans, latest round of funding, which brings the total funding raised to $161.4M, and much, much more. By using content as a driver of interest, SmartAsset can connect interested individuals with advisors that will meet their investment goals, preferences, and criterion. SmartAsset is a personal finance content engine that distributes content, tools, and calculators related to common, everyday financial issues as well as a customer acquisition platform for the personal finance advisory industry. In either case, it’s likely these people interacted with this NYC startup without even knowing it. Many also established relationships with professional financial advisors. With the internet, many of these individuals chose to go the self-directed route. ![]() The importance of managing personal finances came to the forefront during the pandemic as individuals sought to buffer themselves against the effects of COVID and the economy. ![]()
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