Retirable raises $10 million
Retirable, a startup offering a retirement platform for “everyday Americans,” announced a $10 million Series A round led by IA Capital Group, with participation from Nationwide Ventures, Western & Southern Financial Group, Clocktower Ventures, Primary Venture Partners, Portage Ventures, Vestigo Ventures and SilverCircle. Retirable is also disclosing a previously unannounced $4.7 million Seed++ round led by Portage Ventures, bringing the company’s total funding to $25 million to date.
Founded in 2019, the NY-based startup offers products and services across the retirement investing, planning and spending spectrum. To date, Retirable has built thousands of retirement plans and manages $175 million in assets – doubling its AUM in the last six months. 70% of its users had never worked with a retirement planner before Retirable and the company’s advisors can help with investment choices, tax strategy, Social Security timing, housing, Medicare enrollment and healthcare planning.
Retirable also offers a suite of retiree-friendly tools, including a new debit card, custom investment portfolios, high-yield cash management accounts and a “proprietary” bond ladder strategy. The bond ladder secures seven years of predictable income by staggering bond maturities, allowing clients to cover near-term needs with confidence while investing the rest for long-term growth – protecting them from market volatility and “costly behavioral mistakes.”
“We started Retirable because there’s an enormous gap in the market and we saw too many Americans retiring without a plan. Most wealth management firms focus on the affluent, with account minimums starting at $500,000 or more. But the average near-retiree has far less in savings, and nowhere to turn for professional advice. We exist to serve this forgotten middle of Americans who deserve the same peace of mind and confidence in their retirement.” – Tyler End, co-founder and CEO of Retirable.
“Retirable’s comprehensive decumulation platform is the most promising solution we’ve seen for helping Americans manage their finances in retirement. The platform strikes the perfect balance between smart automation and personalized, human touch. We are big believers in Tyler and Ian’s vision and know they’re uniquely positioned to serve this underserved market efficiently at a massive scale.” – Matt Perlman, Partner at IA Capital Group.
