Index, Ribbit lead $35m round for Wealthfront


dollar envelope moneyIndex Ventures and Ribbit Capital have led a $35m round for automated investment service provider Wealthfront.

The Social+Capital Partnership, Greylock Partners and DAG Ventures, Wealthfront said in a blog post.

The Palo Alto-based company has grown 700 per cent since the start of 2013 and currently has more than $800m of client assets under management.

“This significant investment comes with a directed purpose. We believe that in the next 10 years everyone will have an automated investment service,” said the company.

“We’ll be using this new capital to invest in the people and technology required to scale, and by doing so accelerate the pace of new features and services to handle more than a thousand times the assets we manage today.”

Earlier this year Index invested $21m in UK leather goods brand Cambridge Satchel Company.

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