IRALOGIX adds $ 22 million in Series C financing to accelerate growth in the FinTech sector
The growth capital will help IRALOGIX accelerate the product roadmap and expand its groundbreaking proprietary record keeping and technology solutions for Institutional Retirement, IRA, 401 (k) and Wealth Management companies.
PITTSBURGH, July 13, 2022 / PRNewswire / – IRALOGIX announced today that they have raised $ 22 million of new financing. The financing 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 Cayeralong with participation from Hybrid Capital, Roan The capital, the University Growth Fund, Trog Hawley Capital, Circadian Ventures, Great North Ventures and Riverfront Ventures. As part of the funding round, Peter de SilvaFormer President of TD Ameritrades Retail Division, President of Scottrades Investment Management and President / COO of UMB Financial Corporation, will join the IRALOGIX Board.
David Bernardsaid IRALOGIX’s Chairman and CEO The additional funding will help us expand faster and serve an even greater number of leading financial services companies more efficiently than ever before. Peter de Silva lending his extensive expertise to our board will help accelerate IRALOGIX to the next level. ”
IRALOGIX co-founder and CSO, Joe Hipskyadded “We are driving real change throughout the pension industry for the benefit of our customers and their account owners, 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 harness the power of our platform. in several other 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 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 overall US pension market surpassing $ 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 making the highest quality institutional investment products available to everyone, regardless of account size or type. .
About IRALOGIX
IRALOGIX is an industry-leading provider of technology-enabled, completely paperless, white label IRA record keeping and technology solutions. The company’s proprietary technology solutions enable any financial institution to easily adapt its IRA offering and compete effectively in all segments of the IRA market. Through modular technology, institutional clients have the choice between using their internal investment or advisory capabilities or choosing from key industry-leading suppliers. IRALOGIX complements your marketing strategy, streamlines IRA service options, and helps you grow your business across all areas of the industry, profitably. For more information, visit www.iralogix.com.
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SOURCE IRALOGIX
