WP award winning firm picks up $110 million (CAD) in series B funding
Canadian financial planning software firm Conquest Planning just announced the results of its Series B funding round, in which it raised $110 million (CAD) from a set of US and global venture capital luminaries.
The raise was led by Growth Equity at Goldman Sachs Alternatives, as well as Citi Ventures, BDC Capital, TIAA Ventures, USAA and Canapi Ventures. BNY and Portage — already existing investors in the firm — also participated in this round according to a press release from Conquest Planning.
The release states that Conquest will use this injection of capital to finance its push into the US market and further develop its Strategic Advice Manager (SAM), an AI-based planning engine designed to allow advisors and clients to understand the impact of different scenarios on clients’ goals and plans.
"In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced," said Jade Mandel, Managing Director at Growth Equity at Goldman Sachs Alternatives. Mandel will also join Conquest Planning’s board of directors.
At the Wealth Professional Awards held earlier this month Conquest Planning was named the Wealthtech Serivce Provider of the Year. The firm, which was founded in 2019, recently surpassed more than 1.4 million financial plans created. It boasts a client list of over 1,000 institutions including RBC, BNY Pershing, Manulife, and Raymong James.
"The era of inefficient and inaccurate trial-and-error-based financial planning is over," said Dr. Mark Evans, CEO of Conquest Planning.
