Facet Raises $35 Million to Expand Financial Planning Platform

U.S.-based fintech Facet has secured $35 million in a new funding round, bringing its total capital raised to $210 million. The latest round was led by venture capital firm Multiplier Capital, with support from other investors, including Audacious Capital and Warburg Pincus, which had previously invested $100 million in Brazilian paytech Matera in July. Facet's current investors also include Durable Capital Partners, Slow Ventures, Telesoft Partners, and Green Cow Venture Capital.

Founded in 2016, Facet operates as an SEC-Registered Investment Advisor (RIA), offering tech-driven financial planning and advisory services primarily aimed at individuals who may be underserved by traditional financial services. Facet connects clients with certified financial planners who provide personalized advice on a range of financial matters, including budgeting, retirement planning, and debt management. The company's service is unique in that it does not require asset minimums and charges clients a flat membership fee, making financial planning more accessible to a wider audience.