iraLogix adds $ 22 million in Series C financing to accelerate growth in the FinTech sector

By Edlyn Cardoza

iraLogix recently announced that they raised $ 22 million in new financing. The funding will enable iraLogix to expand its rapid growth, accelerate the development of new platform features, increase sales efforts and continue to drive an annual growth rate of over 100%, as it has done for the past three years.

The financing was led by a group of individual financial technology investors represented by Matt Vettel and Nick Cayer, along with participation from Hybrid Capital, Roan Capital, University Growth Fund, Trog Hawley Capital, Circadian Ventures, Great North Ventures and Riverfront Ventures. As part of the funding round, Peter de Silva, former President of TD Ameritrades Retail Division, President of Scottrades Investment Management and President / COO of UMB Financial Corporation, will join the iraLogix Board of Directors.

David Bernard, Chairman and CEO of iraLogix, said, “the additional funding will help us expand faster and serve an even greater number of leading financial services companies more efficiently than ever before. This capital raising is a testament to our mission to drive real change across the industry, and to have Peter de Silva lending his extensive expertise to our board will help accelerate IRALOGIX to the next level. “

iraLogix co-founder and CSO Joe Hipsky added, “We are driving real change in the entire pension industry for the benefit of both our customers and their account holders, where everyone wins. With these great additions to the team, we can continue to accelerate our current growth in the IRA market and expand our plans to use the power of our platform in several areas that will benefit from modernization. ”

Peter de Silva commented, “IRALOGIX has a differentiated product solution that has a strong influence in the market. We believe that the company is well positioned to take advantage of the market dynamics, and I am pleased to use my experience to help the IRALOGIX team continue its growth path.”

With the total US retirement market exceeding $ 39 trillion in 2021, iraLogix has emerged as the leading financial technology platform to help journalists, advisors, mutual funds and other financial services companies reduce costs and increase their business profitably, while producing the highest quality. , institutional investment products available to anyone regardless of account size or type.