Vestwell is a fintech company focused on expanding access to financial wellness and savings programs, supporting more than 750,000 businesses and over 2.55 million active savers with nearly $56 billion in assets through partnerships with financial institutions, government, and payroll providers. Pulse 2.0 interviewed Vestwell Founder Aaron Schumm to learn more.
Aaron Schumm’s Background
When asked about his background and career in financial technology, Schumm shared:
Throughout my career, I’ve built technology that makes the financial system more inclusive, accessible, and effective for more people.
In 2016, I launched Vestwell, a fintech company designed to help close the savings gap in America and expand access to financial wellness and savings programs.
Today, Vestwell supports more than 750,000 businesses and over 2.55 million active savers with nearly $56 billion in assets. We deliver services through partnerships with financial institutions, government, and payroll providers.
Before founding Vestwell, I co-founded FolioDynamix, a wealth management fintech platform that was later acquired by Envestnet.
How Vestwell Started
When discussing how the idea for Vestwell came together, Schumm explained:
The initial idea for Vestwell started back in 2010, when we rolled out our own 401(k) at my last company, and I saw firsthand how outdated, fragmented, and difficult the retirement savings experience was for most savers.
That stayed with me, and after we exited that business, I began refining the concept, talking with advisors, broker-dealers, and top players in financial services about the demand for a more modern, scalable savings platform.
We built Vestwell to be the technology platform that could make saving easier, more accessible, and more efficient for the most important financial aspects of our lives.
Staying Focused On What’s Ahead
When asked about his favorite memory from building Vestwell, Schumm reflected:
There are many moments, but to be completely honest, I’m always so focused on what’s ahead. I tend to bypass celebrating to keep focused on the path ahead.
I have an unrelenting drive to deliver as much as possible to this industry and the people we help, while being fully aware that time is not on any of our sides.
Core Products And Services
When asked about Vestwell’s core products and features, Schumm detailed:
Vestwell provides a comprehensive suite of individual and workplace savings solutions, including retirement plans, student loan repayment benefits, and savings programs for education, emergencies, and child savings, as well as healthcare and disability savings.
Industry Challenges
When discussing challenges in the financial savings sector, Schumm noted:
There are constant challenges in this sector. It’s what creates the opportunity for the problems we solve.
One of the bigger frustrations is when legacy providers push back on accepting innovative policies and initiatives at the detriment of future financial stability for the people they serve because of their own internal issues.
It’s important to do what’s right by people. And if someone can’t deliver that, they shouldn’t be a detractor.
Becoming AI-Native
When asked how Vestwell’s technology has evolved since launching, Schumm described:
It’s endless. I remember when I founded Vestwell, one of our engineers said, “We’ll be done building this platform in six months.” I laughed and said, “We’ll never be done.”
More recently, we’ve spent the last three years rearchitecting our platform data structures to become AI-native.
We are now, by and large, at that point, giving us the ability to do more, faster than ever.
We have some of the most exciting product releases about to happen that I’ve been wanting to build since we started the company a decade ago, and AI is making it possible.
Major 2026 Milestones
When asked about Vestwell’s most significant milestones, Schumm highlighted three major developments in 2026:
There are a lot, so I’ll focus on our three biggest milestones in 2026 so far.
We just finished raising $385 million in Series E funding earlier this year, which is an important milestone for the company because it enables our next phase of growth.
That funding helped make our acquisition of Accrue 401k possible, which brought nearly 30,000 retirement plans and approximately 350,000 additional savers onto Vestwell’s platform, and added additional working capital for some innovation and growth expansion plans.
Vestwell now serves over 2 million savers, another significant milestone for us. The acquisition also strengthened our ability to serve employers and payroll partners with a more modern, integrated savings experience as demand grows for flexible workplace financial solutions.
At the very beginning of the year, we launched the National ABLE Savings Initiative to help millions of Americans with disabilities build financial independence.
Since the expansion of ABLE eligibility in January 2026, roughly 6 million more Americans with disabilities are now eligible to save without jeopardizing access to essential benefits.
With this milestone, we expanded our national disability savings infrastructure through the Vestwell National ABLE Savings Hub and new distribution capabilities.
To lead our ABLE work, we brought on ABLE innovator Juliana Crist to be Head of Vestwell’s ABLE programs and drive broad awareness, access, and adoption of ABLE accounts nationwide.
Building Vestwell’s Recordkeeping Core
When invited to share a specific success story, Schumm pointed to a major technology milestone:
A defining moment for us came when we moved from not having our own sub-accounting recordkeeping core to successfully building and launching it in 2022.
That milestone fundamentally transformed how we operate today.
It’s been incredible to see what this team can achieve when we commit to ambitious goals and follow through with strong execution.
$385 Million Series E
When asked about Vestwell’s funding and revenue metrics, Schumm stated:
Yes, as previously mentioned, we recently raised $385 million in Series E funding, doubling our valuation since 2023 and bringing our total capital raised to $660 million.
This funding round reflects investor confidence in Vestwell’s role as the infrastructure layer for how Americans save.
We are well over $200 million in ARR and continue to grow rapidly.
Market Opportunity
When discussing Vestwell’s total addressable market, Schumm outlined:
Our TAM spans roughly 100 million U.S. households.
About half, nearly 50 million, have already accumulated close to $50 trillion in savings, while the other 50 million represent a significant growth opportunity as they begin building the next $50 trillion in assets.
Competitive Differentiation
When asked what differentiates Vestwell from its competition, Schumm emphasized:
What differentiates Vestwell is that we’ve built the business to be a true financial infrastructure platform, not just a point solution.
We support the full savings ecosystem, from government programs to financial institutions, and advisors to payroll providers, employers, and savers, and that means our technology has to be deep, scalable, and able to serve the complex needs across retirement, education, emergency, and disability savings.
We’ve also been very intentional about building the company for long-term durability, with a focus on trust, sound architecture, security, and a sustainable business model from Day 1.
In an industry like this, where people’s long-term financial futures are at stake, that combination of modern technology, operational rigor, and mission-driven focus sets us apart.
Future Goals
When discussing Vestwell’s future goals, Schumm concluded:
As we look ahead, our focus is on expanding access to financial wellness for more savers, businesses, and communities.
We’re continuing to invest in technology, strategic partnerships, and product innovation to simplify savings and retirement planning, while helping close the wealth gap and drive long-term financial security at scale.
