Zoe Financial Announces $10 Million Series A to Provide Consumers More Access to the Best Independent Financial Advisors

Zoe Financial, today announced the close of a $10 million Series A investment round, led by SoftBank's Opportunity Fund.

Zoe Financial, a digital marketplace that empowers consumers to find and hire vetted financial advisors, announced today the close of a $10 million Series A investment round, led by SoftBank's Opportunity Fund. With this investment, Zoe will advance the development of its end-to-end digital products to deliver the most user-friendly experience for finding and hiring a highly vetted financial advisor. In addition, the financing will enable Zoe to accelerate hiring to support its fast-growing marketplace. 

"Zoe Financial is disrupting the financial advisory market through the implementation of technology, data and sector expertise," SB Opportunity Fund Managing Partner, Shu Nyatta said. "The SB Opportunity Fund is excited to partner with Zoe as it fuels the growth of independent advisory firms providing best-in-class, personalized advisory capabilities to a larger audience - including individuals who have been historically underserved by the market." 

SoftBank's Opportunity Fund is joined by new investors Aaron Schildkrout (Investor at Addition & Former Global Head of Growth at Uber,) Jessica Lachs (VP of Data Science at DoorDash), Chris Nakutis (Former COO at Bird), and Republic Labs. 

Existing investors Chris Jones (Former Blackrock Equity CIO), Marie Chandoha (Former CEO of Schwab Asset Management), ThirdStream Partners, and Stephanie DiMarco (Former Founder/CEO of Advent Software) also participated. During their seed round, Zoe raised $6.3 million, bringing total funding to $16.3 million. 

Over the last 12 months, tens of thousands of qualified prospective clients with an aggregate of over $12 billion in investable assets have matched with Zoe Network Advisors. The aggregate assets under management of Zoe's network grew 1,477% to $410 billion during the same period. The network now has more than 2,600 independent advisors across the country. 

Consistent innovation by the Zoe team has not only led to a first-in-kind matching algorithm, but also been the catalyst for Zoe's Client Dashboard, which launched this week. With the Zoe Dashboard, consumers can match with and review top financial advisors, get a holistic overview of their financial life, and schedule time to meet virtually with experts at their convenience. 

"We are thrilled by SoftBank's Opportunity Fund's support of our vision. The demand by consumers for a frictionless digital journey when hiring a financial professional has never been greater. This is just the beginning," said Andres Garcia-Amaya, Zoe's Founder and Chief Executive Officer. 

About Zoe Financial 

Zoe Financial was founded with one mission: to empower consumers to make better financial decisions. The company makes hiring a financial advisor frictionless, offering a technology-driven marketplace that provides matches based on your unique financial objectives. Zoe's thoughtfully curated network of the best independent, fiduciary, commission-free financial advisors and financial planners includes only the top 5% in the country. 

Contact: press@zoefin.com

Source: Zoe Financial

Share:


Categories: Business News, Finance, Business Finance, Financial and Insurance Services, Personal and Family Finances, Banking, Finance, Insurance

Tags: finance news, financial advisor, Financial news, New York News, NYC News, Series A, SoftBank's Opportunity Fund, Zoe Financial