Investors give Baltimore’s Facet Wealth $25 million to sell businesses on financial planning as a benefit
Yesterday, Baltimore-based fintech company Facet Wealth said it raised $25 million in financing as it readies a new business line pitching financial planning as an employment benefit to businesses looking to recruit top talent.
Employment benefit packages are expanding beyond the basic gym membership and healthcare to include subscriptions to Netflix, discounts on delivery and ride-share services, and other perks. So why not financial wellness?
Fringe pitches a monthly stipend for app purchases and subscriptions as the newest employee benefit
The thesis certainly managed to attract a big-money backer, with Warburg Pincus, the multi-billion dollar private equity investment firm which doubled down on its commitment with the new financing into the company.
The company said the latest round would be used to finance the expansion of Facet Wealth’s direct-to-consumer business even as it readies its employee benefit service for launch.
Already customers are signing up for pre-launch partnerships to get