Santander InnoVentures, the FinTech corporate capital fund of Santander, has announced its strategic investment in US wealth management technology provider SigFig. InnoVentures is participating in the financing round alongside other financial institutions including Comerica, Eaton Vance, New York Life and UBS.
SigFig will use the new investment for a major expansion of its team and platform as it scales its enterprise strategy of building investment technology for a wide range of financial institutions. The firm provides wealth management and robo-advisory technology, designed to provide high quality investment advice to all wealth levels, via a combination of design, data science and technology.
Mariano Belinky, managing partner at Santander InnoVentures, said: “The ongoing need for affordable, accessible financial advice continues to be an area of focus for the investment industry. SigFig is at the forefront of tackling this need, providing enterprise-level wealth management technology that is secure, scalable and compliant – tailored to firms’ unique corporate strategies and individual client needs.”
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