The “Fintech 50: 5 Years in Fintech” is CFTE’s most ambitious project to date, and we have put together a comprehensive report detailing the fate of the top 50 Fintech firms back in 2014, and how they have fared in the five years since. We will be publishing a series of daily snapshots, focusing on one company and the milestones they have achieved.
——————————————————————————————————————–
Wealthfront is a robo advisory firm and can be categorised as a growing company in this vertical. Back in 2014, it was one of the leading robo advisors in the space. Even then, the robo advisor market was considered crowded, but Wealthfront quickly reached US$1 billion in assets under management to be one of the standout players in the industry. It only targeted US consumers and has continued to maintain this practice today, with all clients required to be US citizens and residents.
While other robo advisors have moved on to a B2B model, Wealthfront continues to focus on the US domestic B2C market but has also expanded its services to include freemium financial planning and FDIC insured money market accounts. This is also reflected in its growth milestones over the past five years. As of this year, it has around US$13.5 billion worth of assets under its management, having consistently recorded a steady increase year-on-year. This also cements its status as one of the top two robo advisors in the US today, along with Betterment.
In terms of investment, Wealthfront has been doing very well, having secured five rounds of funding to date. Its latest Series E round managed to raise US$75 million from Tiger Global Management, having previously raised US$126.5 million in the four rounds prior. This brings its cumulative total up to US$201.5 million.
About CFTE
We are a platform supported by senior leaders from the largest institutions, startups and universities. We address the needs of professionals in finance to upskill in a rapidly changing industry being transformed by emerging technologies. More than 50,000 participants learn from our online courses, such as AI in Finance, Fintech Foundation or Extrapreneurship, a mini-MBA with fast growing startups such as Revolut or Shift Technology.
——————————————————————————————————————–
Latest Posts
- CFTE at 24 Fintech 2024
- What happened at 24 Fintech? The festival in 10 takeaways
- CFTE’s Coffee and Croissants Event in Singapore: The August Edition
- CFTE as an Ecosystem Partner at the Global Fintech Festival 2024
- CFTE Co-Founder Tram Anh Nguyen Appointed as Co-Chair of British Chamber of Commerce Singapore’s Financial and Fintech Committee
Next Events
[MEC id=”3937″]
