Northstar raises $24.4 million

Financial wellness platform Northstar has raised $24.4 million in funding led by GGV Capital, with participation from PayPal Ventures, Thomson Reuters Ventures, Canvas Ventures, and others.

Founded in 2016, Northstar’s financial wellness program guides employees through different financial and life situations, and helps companies support their teams at scale through onboarding, open enrollment, equity events, and more.

The company offers its platform through employers such as Zoom, Snap, and NerdWallet, but individuals can also access the service via a monthly membership that costs $79. Northstar employs full-time, in-house financial advisors and matches each employee 1-on-1 with a personal Northstar Advisor, who they work with on an ongoing basis.

“Financial advice as a service has been around for many years, yet many consumers do not have access to financial advisors, creating a huge market. We at GGV share Northstar’s vision that financial wellness should be universal for all employees. It is the next highly sought after employee benefit after mental health. Will has built an incredible team to take on this game-changing opportunity.” – Hans Tung, managing director at GGV Capital.