OneVest Raises $20M Series B to Revolutionize Wealth Management in WealthTech Sector

OneVest Raises $20M Series B to Revolutionize Wealth Management in WealthTech Sector

WealthTech company OneVest has recently made headlines by securing a significant $20 million in a Series B funding round. This infusion of capital is set to enhance its modular wealth management technology platform, which caters to the evolving needs of financial institutions.

OneVest’s Series B Funding Round Details

Led by Salesforce Ventures, the funding round saw participation from notable investors including Allianz Life Ventures and TIAA Ventures. Returning investors such as OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners also contributed to this successful round.

What Does OneVest Offer?

OneVest’s platform is designed to provide a flexible solution for enterprises looking to modernize their wealth management services. Key features of the platform include:

  • End-to-End Solutions: Institutions can implement a complete solution or choose specific modules to upgrade their existing systems.
  • Reduced Vendor Reliance: The technology allows firms to minimize dependence on legacy vendors.
  • Streamlined Operations: Enhanced processes to improve efficiency.
  • Hybrid Experiences: Tailored experiences to meet the diverse needs of investors.

Future Plans with New Capital

The newly acquired capital will primarily focus on enhancing OneVest’s AI capabilities. This improvement aims to facilitate better decision-making and boost client engagement. Additionally, OneVest plans to:

  • Expand its offerings in alternative investments.
  • Provide tools for enterprises to diversify client portfolios, addressing the shifting financial landscape.

Leadership Insights

OneVest’s CEO, Amar Ahluwalia, emphasized the importance of this funding, stating: “We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies. Having such esteemed investors solidifies our position to reimagine wealth management technology for enterprises across the U.S. and Canada.”

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Industry Perspective

According to Zak Kokosa, senior associate at Salesforce Ventures, “OneVest is at the forefront of transforming wealth management technology by providing institutions with the tools needed to deliver personalized and scalable solutions. We’re excited to support OneVest as they continue to set the standard for innovation in an industry poised for tremendous growth.”

For more information on wealth management innovations, visit Forbes’ Wealth Management Guide.

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