Planswell, an online financial planner that provides its plans for free, has intentions to expand.
The Toronto-based startup says in a release that it’s raised $4 million from investors since launching a year ago. Investors include a Canadian investor with a global footprint, a spokesperson said via email.
With the funds, the firm says it will continue to make product enhancements and expand internationally through strategic partnerships, as well as hire for key positions—including an associate portfolio manager, the spokesperson said.
The firm plans to increase its head count by 50% in 2019. Since its inception, the firm has doubled its team to 54 people and built more than 100,000 financial plans, the release says.
The firm also plans to expand to 12 countries across Europe, Asia and Latin America in the coming year.
Financial planners with clients who procrastinate might want to take note of a client perk provided by the firm: Planswell has a rewards program that enables users to earn benefits like free pizza and luxury cruises for taking positive steps toward implementing their plans.