Capitalize raises $19 million

Capitalize, a startup helping consumers and financial institutions find and transfer retirement assets, announced the close of a $19 million Series B funding round led by RRE Ventures, with participation from Canapi Ventures, Bling Capital, and Industry Ventures.

Launched in 2020, the Capitalize platform helps consumers and their financial institutions digitally locate and transfer retirement assets, such as 401(k)s. Capitalize’s enterprise solution allows financial institutions to embed its rollover technology directly into their onboarding and funding flows, helping their customers find and transfer legacy employer-sponsored retirement accounts into a new account of their choice.

The startup has “rapidly expanded” its platform to digitally locate and transfer legacy retirement accounts, and is now processing several billion dollars of rollover volume annually.

“We’re thrilled to be partnering with RRE for this latest funding round, a firm we’ve long admired for their mission-driven approach and deep expertise within financial services and fintech. Together we’re excited to keep modernizing the antiquated rollover process so that Americans can better move and manage their money, and our partners can serve their users more efficiently.” – Gaurav Sharma, co-founder and CEO of Capitalize.

“We’re honored to support Capitalize in its journey to bring retirement account transfers into the digital age. We’ve known Gaurav and the Capitalize team since 2020, and have been incredibly impressed by the thoughtful, systematic approach they’ve taken to building a great company in this important industry.” – Raju Rishi, General Partner at RRE Ventures.