Online financial planner Planswell raises additional $4 mln

Planswell, a Toronto-based financial planning platform, has secured an additional $4 million in financing, bringing total funding so far to $17.8 million. The investors were not identified. Planswell previously raised capital from former senior financial executives and other sources. Founded in 2015, Planswell has since its launch last year built more than 100,000 free financial plans for Canadian users. Led by CEO Eric Arnold, the company will use the round's proceeds for product enhancements, new hires, and expanding to Europe, Asia and Latin America with the help of strategic partnerships.