IGM Financial leads Personal Capital's $50 mln Series E round

Redwood City, California-based digital wealth management company Personal Capital has raised US$50 million in a Series E financing. The round was led by IGM Financial Inc, a personal financial services affiliate of Canada's Power Financial Corp. The company will use the funds raised for growth, enhancing its technology and investing in partnerships. Founded in 2009, Personal Capital provides wealth advisory services and online financial tools. It reports having more than US$8.5 billion in managed assets and two million registered users on its platform.