Power Financial invests $75 mln in U.S. digital wealth manager
San Francisco-based digital wealth management specialist Personal Capital has secured US$75 million in a Series E financing. IGM Financial Inc, an affiliate of Canadian financial holding company Power Financial Corp, was the sole investor in the round. It invested US$50 million initially and has committed to investing another US$25 million in the next year. Personal Capital, founded in 2009, said the round valued it at about US$500 million. It plans to use the proceeds of the investment to scale the business and add to its suite of financial services.
20 May 2016•4 mins read
