OneVest has secured $20 million in a Series B funding round led by Salesforce Ventures, with participation from Allianz Life Ventures, TIAA Ventures, and existing investors. The company offers a flexible, modular platform for wealth management, enabling firms to adopt end-to-end solutions or specific modules. OneVest plans to expand into alternative investments, helping businesses diversify client portfolios in volatile markets. It is strengthening partnerships with industry leaders like BlackRock and Salesforce, enhancing client and advisor experiences. With advanced AI capabilities, OneVest aims to revolutionize wealth management, positioning itself as a leading platform in North America.
What is OneVest?
OneVest is a wealth management technology provider that offers a flexible, modular platform designed to help financial firms modernize and streamline their wealth management programs. Its platform allows companies to either implement a comprehensive end-to-end solution or select specific modules to upgrade their services.
OneVest focuses on enabling businesses to diversify client portfolios, particularly in alternative investments, and integrates advanced technologies like artificial intelligence (AI) to improve decision-making and client engagement. By partnering with industry leaders such as BlackRock, Vanguard, and Salesforce, OneVest aims to enhance the client and advisor experience, positioning itself as a key innovator in the wealth management sector across North America.
Why is This Funding Significant?
The $20 million Series B funding validates the company’s innovative approach to wealth management technology. Led by Salesforce Ventures, with participation from Allianz Life Ventures, TIAA Ventures, and existing investors, the funding highlights strong industry confidence in OneVest’s modular and flexible platform. This investment will enable OneVest to expand its services, particularly in alternative investments, helping firms diversify client portfolios in volatile markets.
The funding strengthens partnerships with major players like BlackRock and Salesforce, enhancing integration and client experiences. It positions OneVest to accelerate growth and solidify its role as a leading wealth-tech platform in North America.
How Will the Funds Be Used?
The company plans to use this funding to expand its wealth management platform, focusing on alternative investments and providing tools to diversify client portfolios. OneVest will also strengthen partnerships with financial giants like BlackRock, Vanguard, and Salesforce to enhance its offerings. The funding will help improve its platform with AI features, streamline client-advisor experiences, and save time and costs compared to traditional systems, aiming to become a leading wealth management platform in North America.
Founders’ Perspective
The founder of OneVest, Amar Ahluwalia, believes that the wealth management industry has been slow to adopt new technologies, which presents a big opportunity for change. He is excited about the funding, as it strengthens OneVest’s position to transform the industry with advanced, flexible technology
Amar Ahluwalia said, “We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies. Having such esteemed investors solidifies our position to reimagine wealth management technology for enterprises across the US and Canada. “With this new funding, we are poised to achieve our goal of becoming the leading wealth management platform in North America.”
Key Takeaways
- Funding Success: OneVest raised $20 million in a Series B round led by Salesforce Ventures, with support from new and existing investors like Allianz Life Ventures and OMERS Ventures.
- Platform Flexibility: Its modular platform allows firms to adopt end-to-end wealth management solutions or specific modules, saving time and costs.
- Expansion Plans: Funds will be used to expand into alternative investments, helping businesses diversify client portfolios in volatile markets.
- Strategic Partnerships: Strengthening ties with industry leaders like BlackRock and Salesforce enhances integration and client experiences.
- Tech Innovation: Investment in AI will improve decision-making, client engagement, and advisor tools.
- Growth Vision: OneVest aims to become a leading wealth-tech platform in North America.
Conclusion
OneVest’s $20 million Series B funding sets the stage for significant growth and innovation in the wealth management industry. With this investment, the company plans to expand its platform’s offerings, focusing on alternative investments and enhancing client portfolio diversification. Strong partnerships with industry leaders like BlackRock and Salesforce will help OneVest strengthen its position in the market. By incorporating AI and offering customizable solutions, OneVest aims to revolutionize wealth management, providing smarter and more efficient tools for financial advisors and clients across North America. The future looks promising for OneVest’s growth.
