UNest raises M 26M in Series B funding for US-based money-saving app for kids

UNest, the first mobile app of its kind to help parents invest in their children’s future, has raised $ 26 million in Series B funding led by The Artemis Fund.

Existing investor Northwestern Mutual Future Ventures has partnered with new investors, including Franklin Templeton, Launchpad Capital, AltaIR Capital, Oneway Ventures, Unlock Venture Partners and Jim McKelvey, co-founder of Square. Jennifer Ball, Franklin Templeton’s head of U.S. marketing, is also involved in the fundraising.

The California-based startup plans to use the new funds to accelerate its growth and launch new offers like UNest Legacy.

Launched in February 2020 by Ksenia Yudina, UNest is a goal-driven fintech company that enables parents to invest and save for their child’s future. The platform provides access to features such as gifts, allowing family and friends to contribute directly to the child’s account. The company is on a mission to democratize the availability of quality colleges and solutions to family problems.

Speaking about the capital raised, Kesenia Yudina, Founder and CEO of UNest, said: “Investments by major financial institutions such as Northwestern Mutual and Franklin Templeton confirm what we are raising and the direction the industry is heading. We urge everyone to participate and We set out to build a system that will allow for prosperity, and we are committed to keeping that promise. “

Since its launch, UNest has helped thousands of families provide their children with a financial head-start and road map. No documentation is required for a UNest investment account for kids and it only takes five minutes to set up through the award-winning app.

According to Udina, the Series B news for UNest comes at the heels of a high-growth year. It registered as a broker-dealer, bought two companies and added 300,000 users to its platform in 2021, bringing the total number of users to 400,000. UNest plans to serve 1 million users by the end of next year.

Leslie Goldman, co-founder and general partner of the Artemis Fund, said: “The Artemis Fund is on a mission to diversify its assets by investing in reputable women founders such as Casenia. We are her unwavering partner in bringing economic stability and independence to the next generation. “

UNest partners with financial industry leaders to give parents a painless way to build the best educational future possible for their children. It recently acquired Littlefund and Kidfund, a socially run savings app that helps parents save money for their children and teach them good financial habits.

In June last year, UNest raised $ 9 million in a round of funding led by two-time NBA All-Star Baron Davis and returning investors Northwestern Mutual Future Ventures, Artemis Fund, Draper Dragon and Unlock Ventures, led by Anthos Capital. The startup’s latest fundraiser brings its total fundraising to 40 million.

About the author

Author: Shalini Pathak

Shalini Pathak Shalini Pathak is a staff writer at EdTechReview (ETR) – India’s leading Adtech media and community. She has four years of experience in media covering various beats. Like all writers, she is first and foremost an avid reader who has a passion for creating content out of the box and has the ability to write on any topic. As part of the ETR team, it will cover the latest developments in the Adtech industry, focusing on the stories of Adtech startups and their funding.

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