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Betterment raises $100m

March 29, 2016

Robo advisor Betterment has raised $100 million in Series E funding at a pre-money valuation of $600 million. Kinnevik led the financing, with participation from Bessemer Venture Partners, Anthemis Group, Menlo Ventures and Francisco Partners. “Our goal is to become the central financial relationship for our clients,” said Jon Stein, Founder and CEO of Betterment. “Over the past year, we’ve made great progress toward that goal with features like RetireGuide and account aggregation, but there is still work to do. It’s the early days for us on our path to helping millions of Americans reach their financial goals.”

Chinese eco-sports company LeSports, an independently funded subsidiary of LeEco, has secured $1.2 billion in Series B financing. The company has now raised a total of $1.35 billion. LeSports is now valued at $3.3 billion. “LeSports has quickly emerged as the No. 1 platform in China’s Internet sports industry,” said LeSports CEO Zhenjian Lei. “We are on a mission to provide our customers with better sports entertainment by enhancing the LeSports content platform, expanding our user base and acquiring more resources from the industry. In addition, we will be developing premium smart devices and expanding the number of products in the industry – ultimately creating new and better sporting experiences for our users.”

Figtree Financing, a clean energy financing business, has raised $30 million in Series A funding. Private equity firm LL Funds led the round. “This is an incredibly exciting time for PACE and our company, thanks to renewed focus from the federal government on establishing residential guidelines and the emergence of new commercial programs in Colorado, Virginia, Maryland, Missouri, and elsewhere,” said Mahesh Shah, CEO of Figtree Financing. “PACE and Figtree Financing are a terrific example of a public-private partnership creating an innovative lending product to address a gap in energy financing for homes and businesses.”

Hopper, an airfare prediction app, has grabbed $16 million in a funding round led by BDC Capital IT Venture Fund. Existing investors Omers Ventures, Accomplice and Brightspark Ventures also participated. Hopper has now raised $38 million in total for its app, which advises users on when is the most cost-effective time to book a flight.

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Filed Under: Finance, Investment Round Up, Startups

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