Savology, a Utah-based fintech startup providing free financial planning, oversubscribed a $750,000 seed round of funding to make financial planning more accessible and affordable than ever before.
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Several strategic investors participated in the funding round, including:
- Brady Murray, CEO of MassMutual Intermountain West
- Derrin Hill, CEO of RevRoad
- Bruce Miller, Founder & CEO of PROFi – The Professional Financial Company LLC
- Ben Tejes, Co-founder & CEO of Ascend Finance
“Savology has the potential to fundamentally change the direction of personal finances in America,” says lead investor Brady Murray. “I look forward to seeing the positive impact that Savology will have on both households and the broader industry as they improve access to financial planning and other financial services.”
Savology boasts a considerable lineup of financial service provider partners that include the likes of MassMutual, Acorns, Lively, M1 Finance, Self, Blooom, The Zebra, Credible and many others. Savology is on track to expand the network of partners to 50 providers this year.
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“We are grateful to the early investors and partners who believe in our mission and make it possible for us to elevate Savology to new levels,” says Spencer Barclay, Founder and CEO of Savology. “We know that we have an incredible amount of work ahead of us, but we are up for the challenge to help millions of households achieve financial security.”
To date, the company has helped nearly 10,000 households improve their personal finances with its free financial planning platform. With the current economic uncertainty and recent stock market declines, there has never been a better time to help Americans with their personal finances. Savology plans to use this funding to help 100,000 users build free financial plans this year.
