Capitalize automates the process of transferring retirement accounts with a free, digital platform to find legacy accounts, open new ones, and initiate rollovers online.
Capitalize, the first independent platform to transfer retirement assets, announced that it has closed a $2M Seed round led by Bling Capital, an early-stage venture fund based in San Francisco. Additional investors include Greycroft, RRE Ventures and Walkabout Ventures. Capitalize is solving one of the biggest problems in the $20 trillion retirement savings market by helping Americans easily locate and roll over their legacy 401k accounts.
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“As fintech companies have digitized across various industries, we noticed a gap in the retirement savings market to improve how legacy accounts are transferred and managed”
Capitalize guides users through an intuitive, online process to offer a streamlined alternative to the historically complicated, manual process of rolling over retirement accounts – for free. The platform instantly locates former 401k accounts, matches users to individual retirement accounts at leading financial institutions, and initiates rollovers on their behalf. With over 15 million 401k account-holders changing jobs each year and higher levels of financial insecurity resulting from the COVID pandemic, Capitalize helps ensure Americans avoid cashing out or losing track of their 401k savings.
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“As fintech companies have digitized across various industries, we noticed a gap in the retirement savings market to improve how legacy accounts are transferred and managed,” said Gaurav Sharma, Co-Founder and CEO of Capitalize. “With Capitalize, we’re empowering Americans to consolidate their 401k assets and make the most of their money as they move throughout their careers.”
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