OneVest, a comprehensive wealth management technology platform, announced the closing of a $20 million Series B equity funding round. The funding round was led by Salesforce Ventures, with participation from new investors, Allianz Life Ventures and TIAA Ventures. And returning investors include OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners.
The wealth management market is going through significant changes. And tens of trillions of dollars will be transferred from Baby Boomers to their Gen X and Millennial heirs in the coming decades. OneVest’s platform is uniquely prepared to help enterprises address these shifts.
OneVest’s platform was designed modularly and flexibly, allowing firms to roll out their complete end-to-end solution, while large enterprises like banks, Registered Investment Advisors (RIAs), asset management firms, and insurance companies can pick and choose specific modules to modernize their wealth programs. And customers can save implementation time and significantly reduce the cost of using various legacy vendors and manual processes. Additionally, the platform is highly configurable, enabling customers to offer tailored hybrid experiences for investors and empower advisors to gain greater control and insights over their books of business.
OneVest is building advanced AI capabilities to enhance decision-making and client engagement. And the company will expand its offerings in alternative investments, offering enterprises tools to diversify client portfolios in a dynamic financial landscape. OneVest is committed to defining industry changes while providing a unified and seamless customer experience.
OneVest is deepening its strategic partnerships with key industry players, like BlackRock, Vanguard, and Salesforce Financial Services Cloud to solidify its market leadership further and expand its reach across the financial services sector. And with many of its clients using Salesforce, OneVest is increasing value to mutual customers by further unifying the client/advisor experience.
OneVest is setting a new standard for the wealth management technology experience, offering enterprises the ability to deliver unparalleled customization and personalization through a best-in-class platform. And the latest funding round will enable OneVest to focus on company growth and product development.
KEY QUOTES:
“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. With this new funding, we are poised to achieve our goal of becoming the leading wealth management platform in North America.”
- Amar Ahluwalia, CEO of OneVest
“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.”
- Zak Kokosa, Senior Associate, Salesforce Ventures
