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.
Planswell raises additional $4 million after building 100,000 free plans for Canadians
TORONTO, JAN. 21, 2019 – Canada’s first online financial planning company, Planswell, has raised an additional $4 million in funds after building over 100,000 free financial plans.
“Before launching a year ago, we had thousands of people signed up for our waitlist,” said Eric Arnold, CEO of Planswell. “Today, we’ve built over 100,000 financial plans, doubled our team to 54 people, and landed in the 11th spot of LinkedIn’s Top Canadian Startups list. We now have an international waitlist and are in the early stages of expanding to 12 countries across Europe, Asia and Latin America.”
Planswell will use the additional funding to continue making product enhancements, adding some key hires and continuing with international expansion through strategic partnerships.
“We’ve talked to tens of thousands of Canadians who are not getting proper financial planning and advice,” said Arnold. “There are so many people that we need to reach. We’re the only company providing free, unbiased financial advice to everyone, including mortgages, investments and insurance that are absolutely in their best interest.”
In the past year, Planswell launched a number of free financial planning tools and calculators, as well as a rewards program that enables users to earn perks like free pizza and luxury cruises for taking positive steps towards implementing their plans.
Planswell uses patent-pending technology to create the most intelligent financial plans in the world, absolutely free. We enable people from all walks of life to align their borrowing, investments and insurance with their personal goals. Planswell is a Canadian company with a team of 50+ in their Toronto office and was most recently named one of LinkedIn’s Top Canadian Startups. For more information please visit www.planswell.com.
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Lauren Arnold | T: 647-869-1438