Bessemer Backs Better-Savings Startup Betterment With $3 Million

Betterment, a financial savings startup which launched last May at TechCrunch Disrupt, raised $3 million in a series A financing led by Bessemer Venture Partners. The Anthemis Group, Thomas Lehrman, and other angel investors also participated. Betterment aims to disrupt the financial savings industry by letting customers invest their savings in a carefully-selected blend of stock and bond portfolios which are rebalanced regularly and automatically. The New York City startup is a registered broker dealer and financial adviser. The only fee it charges is a management fee that is about one percent of assets in each account (soon this fee will become tiered so that larger accounts pay a smaller percentage).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/5y2nZ2p3Pas/

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