Planswell secures $7M additional seed funding

Planswell Inc., an online financial planning company, has secured $7 million in additional seed funding, bringing the total funding to $13.8 million. No information on investors.

Led by CEO Eric Arnold, Planswell launched nationally in January 2018 with the announcement of $6.8 million seed round from a range of investors, including former senior executives from some of Canada’s top financial institutions.

Planswell intends to use new funding to continue developing the company’s innovative planning engine, to expand its marketing efforts nationally, and to assist more Canadians with achieving financial security.

photo credit: Planswell

News Release

Planswell raises an additional $7 million after building more than 50,000 free financial plans

TORONTO, JUNE 7, 2018 – Planswell, Canada’s first online financial planning company, has raised an additional $7 million in funding, bringing the total funding to $13.8 million.

The funds will be used to continue developing the company’s innovative planning engine, to expand its marketing efforts nationally, and to assist more Canadians with achieving financial security.

“Most of our clients come to us from banks, financial advisors, and robo-advisors,” said Eric Arnold, CEO and co-founder of Planswell. “They’re usually on track to spend hundreds of thousands of dollars in excess fees and interest charges, and they almost never have a proper plan. We give them an excellent plan for free and access to mortgages, investments and insurance that can save them a ton of money. It’s rewarding to see the positive impact we’ve had on so many people.”

Since launching nationally in January 2018, Planswell has built more than 50,000 financial plans for Canadians across the country.

“It’s been amazing to make financial planning accessible to everyone,” said Arnold. “We’ve been able to help everyone from single people starting out in their careers, to families that are expanding, and couples who are approaching retirement.”

Planswell now has more than 50 employees on a mission to assist Canadians in sustaining their lifestyles through retirement, putting their kids through school, or something unexpected. The financial planning engine is the first of its kind and makes it easy to build your plan for free in about three minutes.

How it works
Build your free plan at www.planswell.com. You can then schedule a free walk-through with a PlanPro, who can fine-tune your plan and give you advice on how to save hundreds of thousands of dollars.

1. Build your plan
Answer 30-40 questions in three minutes to create your plan. The questions are easy and can be answered off the top of your head.

2. Review your plan
You’ll see exactly what to do each month to grow your wealth, reduce your debt, and be protected from financial surprises. Expert phone or chat support is available.

3. Implement your plan
You can take your plan away and implement it yourself, or ask us to assist. We’ll guide you through each step and make it faster and cheaper than anywhere else.

About Planswell
Planswell uses patent-pending technology to create the most intelligent financial plans in the world, absolutely free. We enable people from all walks of life to align their investments, insurance and borrowing with their personal goals. Planswell is currently operating across Canada, excluding Quebec and the Territories (coming soon). To learn more, visit www.planswell.com.

Available for interviews
Eric Arnold, CEO

Lauren Arnold, PR Manager
647 869 1438; lauren@planswell.com
www.planswell.com

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.