IGM Financial has invested $50m in the BBVA and USAA-backed digital wealth manager at a $50m valuation and will provide another $25m next year.
Personal Capital, a US-based digital wealth manager that counts financial services firms BBVA and USAA as strategic investors, secured $75m in funding yesterday.
The capital was provided by IGM Financial, a subsidiary of financial services investment group Power Financial Corporation. IGM invested $50m at a $500m valuation and has agreed to add another $25m in 2017.
Personal Capital offers a wealth management service that combines licensed financial advisors with online finance tools. More than one million customers have signed up…
