Wealth.com, a Phoenix-based startup, has raised a new round of capital to enhance its estate planning platform for financial advisers and wealth management firms.
The startup closed a $30 million series A round led by GV — formerly Google Ventures, the venture capital arm of Alphabet Inc. — with participation from Citi Ventures, Outpost Ventures, 53 Stations and Firebolt Ventures, the company announced Monday.
Wealth.com plans to use the infusion of capital to accelerate development of new features for its estate planning platform, which is intended to modernize and simplify an industry that has “long been burdened by outdated processes and complexity,” according to the company.
“Our platform has streamlined and unlocked access to estate planning for thousands, highlighting the generational change we’re driving in the industry,” Rafael Loureiro, CEO of Wealth.com, said in a statement. “This investment validates our efforts to disrupt estate planning while supporting our continued growth and ability to serve an ever-expanding client base.”
Wealth.com’s capital raise follows the company’s recent launch of its Family Office Suite, a collection of estate management tools designed for high net worth clients. The suite provides financial advisors with the ability to manage complex estates while optimizing tax planning and streamlining reporting processes, according to the company.
“Half of all personal wealth in the U.S. will change hands over the next two decades. As we navigate the largest wealth transfer in history, the need and opportunity for estate planning solutions has arguably never been greater,” Elena Sakach, a partner at GV, said in a statement. “Clients naturally turn to their trusted advisors for guidance in this important pursuit, and wealth.com’s unique approach will make it easier for advisors to deliver on their clients’ holistic planning needs.”
Sakach joins Wealth.com’s board of directors as part of the funding deal.
Wealth.com plans hiring to support growth
Wealth.com was founded in 2022 by Rei Carvalho, Rafael Loureiro and Tim White, who enlisted experts in trust and estate law, personal financial management and data security to design and develop the company’s estate planning platform.
That same year, Wealth.com closed a $16 million seed funding round, which the company intended to use for research and development, the Business Journal previously reported.
The company works remotely but plans to open an office in the Phoenix area in the future, although it did not disclose additional details about potential locations or an opening date.
Wealth.com has 47 full-time employees, most of whom are based in the Valley.
"As a result of our funding, we plan to bring on more strategic hires to help drive and support the growth of the business," a company spokesperson told AZ Inno in an email. "Our hiring plans will be in response to our business and growth needs."
The company has 13 jobs current listed on its website, including positions in marketing, product design, engineering, sales and client engagement.
