Allegis Capital led the $20 million major financial infusion, according to FinSME. An impressive group of investors provided additional support, including Plug and Play Ventures, Ulu Ventures, Nationwide Ventures, Fin Capital, Frontier Venture Capital, Cameron Ventures, Marin Sonoma Impact Ventures, Northwestern Mutual Future Ventures, and Motley Fool Ventures. With this funding round, NewRetirement has invested a total of $20.8 million.

One of the leading financial planning platforms is NewRetirement, which was founded by CEO Stephen Chen. It gives users the ability to choose, create, and oversee unique routes leading to a safe future. The platform's flexibility is demonstrated by its capacity to be white-labeled or co-branded for different partners. Employer plan sponsors and providers can provide their staff with self-directed financial wellness benefits by providing NewRetirement's extensive library of planners, calculators, and instructional workshops. The company's planner, calculators, advisor tools, and APIs can be used concurrently by banks, insurance companies, and wealth managers to build a customized platform. By better engaging customers, this creative strategy helps these organizations to maintain assets, investigate new business models, and increase income.

With the new $20 million in funding, NewRetirement plans to dramatically expand its business offerings. The money will go into improving research and development (R&D) activities to better serve its user base, expanding onboarding and support systems for new partners, and combining large language models (LLMs) and artificial intelligence (AI) to provide more individualized suggestions. Furthermore, the organization will be better able to meet growing demand thanks to this funding.

The company's plans to use the most recent investment to expand enterprise solutions, speed partner support and onboarding, advance R&D for user benefits, and integrate advanced AI for personalized advice further emphasize NewRetirement's growth trajectory and show the company's unwavering commitment to satisfying growing demand.

With the Series A round, NewRetirement has raised an astounding $20.8 million in total funding, which is a huge step forward in its goal to transform the financial planning industry.