Capitalize Secures $12.5 Million in Series A Funding Led by Canapi Ventures
Summary
NEW YORK--(BUSINESS WIRE)--Capitalize, the first online platform to help consumers transfer retirement assets, today announced the close of a $12.5 million Series A investment round. The new round will drive continued growth, support strategic investment in talent and enable Capitalize to add new services as it helps consumers save for retirement nationwide. Over 15 million 401k account holders change jobs each year, the majority of whom either cash out or leave their assets behind for an extended period of time due to the historically complicated rollover process – creating growing gaps in the $20 trillion retirement savings market. Capitalize’s unique mix of proprietary technology and leading customer service helps users instantly locate misplaced 401k accounts, select and open individual retirement accounts (IRAs) at leading financial institutions, and initiate rollovers on their behalf for free. This Series A financing enables us to reach more consumers, significantly expand our team and offer new services to help our users save for retirement.
Funding
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