US robo-advisor Blooom raises $4m
Blooom has raised $4m via a Series A funding round. The firm provides an on-line tool for the 401(k) market targeting smaller investors. It currently manages more than $110m and employs 18 people and plans to use the funds to expand its operations.

Blooom, a Leawood, KS-based fintech startup, raised $4m in Series A funding.

The round was led by QED Investors with participation from DST Systems Inc., Commerce Ventures, Hyde Park Venture Partners and UMB.

The company intends to use the funds to expand its operations.

Led by CEO Chris Costello, Blooom provides an online tool that assesses a consumer’s 401(k) in a few minutes and provides ongoing professional management for only $1/month for those with less than $20,000 invested ($15/month for those with more than $20,000).

Founded in 2013, Blooom now manages more than $110m.

The Registered Investment Advisory firm currently employs 18 people.

FinSMEs

16/10/2015