American Express exited the financial planning service after participating in two funding rounds over the last two years.
Insurance provider Northwestern Mutual agreed on Wednesday to acquire US-based financial planning platform LearnVest, providing an exit to payment services provider American Express.
The companies did not disclose financial details concerning the transaction, but sources told Fortune the amount paid by Northwestern was in excess of $250m in cash.
Launched in 2010, LearnVest’s service combines a personal financial advisor with a customisable financial planning system that visualises progress and provides access to additional resources such as articles and classes.
The…
