Sharing Our Exciting $11M Series A-1 Capital Raise

Ritik Malhotra
by
Ritik Malhotra

Today, I’m thrilled to announce that we've closed a Series A-1 financing round of $11 million, led by Berkeley’s The House Fund and supported by our incredible partners at Index Ventures, Thrive Capital, Brewer Lane Ventures, Jordan Park, and many others.

We’ve only just celebrated Savvy’s first birthday (!), but in that time we’ve managed to grow our team from 2 to 23 amazing people, onboard a visionary class of financial advisors who are excited to build the future of wealth management, start transitioning over $200 million in AUM to our firm, and (most of all) have fun in the process.

Our vision at Savvy is to modernize human financial advice through technology. Having gone through the arduous process of finding a financial advisor, transitioning my accounts, and working with advisors on a day to day basis, I couldn’t help but think how painful the experience must have been for them, let alone for myself. While this might have been a one-time process for me, financial advisors globally are still dealing with incredibly slow account migrations, compliance checks, and traditional paperwork across multiple disparate systems every single day. Not only does this hamper their ability to grow, but it also makes for inconsistent, poorly designed client experiences with huge room for improvement.

We built Savvy to solve these problems. By bringing the wealth management industry into the 21st century through technology and automation, we’re aiming to meet the entrepreneurial financial advisor where they are today, by giving them the cutting edge tools of tomorrow. That’s why we’re planning to use our fresh funding to double down on the human side of financial advice. The more time we can free up for advisors to spend with their clients and deeply understand their unique needs, the more successful we believe advisors will be.

We’re incredibly excited to close our Series A-1 raise. Building Savvy has been both rewarding and transformative, and we are only just getting started.

Onwards 🚀,
Ritik