The large preempted equity financing is a testament to the conviction these investors have in Vestwell's trajectory and its future; the funding round also firmly establishes Vestwell as one of the biggest US funding success stories of 2023 in the fintech and SaaS sectors. Moreover, as Vestwell was already poised to reach profitability, the new funding allows for further accelerated growth opportunity focus and ensures the company is fully capitalized for the future.

The round was led by Lightspeed Venture Partners. Existing investors Fin Capital, Primary Venture Partners, and FinTech Collective, and newcomers Blue Owl and HarbourVest, also participated.

Vestwell is a leading employer and individual savings platform. Vestwell is transforming access to essential financial wellness and savings programs to close the American savings gap. As an extension of its partners, Vestwell enables a suite of programs, including retirement, health, and education, such as 401(k), 403(b), IRA, 529 Education, ABLE disability, and Emergency Savings programs.