UNest raises $26 million
UNest, a fintech startup that helps parents invest and save for their kids’ future, has raised $26 million in Series B funding led by The Artemis Fund with participation from Northwestern Mutual Future Ventures, Franklin Templeton, AltaIR Capital, Launchpad Capital, OneWay Ventures and Unlock Venture Partners, among others. The company will use the financing to fuel continued growth and the launch of new features such as UNest Legacy, which will allow parents to buy individual stocks and cryptocurrencies for their children.
Founded in 2018, UNest allows parents to open an account in “just five minutes,” with no paperwork. Users have access to features such as Gifting, which allows family and friends to contribute directly to a child’s account for holidays or special occasions, UNest Rewards, where parents can earn more money when they shop with their favorite brands, and UNest Learn, an educational component built into the app to answer money questions. This year, the startup added over 300,000 users.
“UNest is addressing an important investment and advice gap. Millennials and Gen Z are looking for easier ways to manage their money, and UNest is at the forefront of the digital transformation revolutionizing the financial industry. We are excited to embark on this journey with UNest as the company starts a new chapter.” – Jennifer Ball, head of US marketing for Franklin Templeton.
“UNest’s growth has wildly exceeded our expectations, largely because we listened to our customers who are looking for flexibility to save for things outside of just education. Having major financial institutions such as Northwestern Mutual and Franklin Templeton invest in this round validates what we’re building and is indicative of where they believe the industry is headed. We set out to create a system where everyone has the opportunity to participate and thrive and we intend to continue to follow through on that promise.” – Ksenia Yudina, CFA, founder and CEO of UNest.
“We are proud to lead this round because of the tremendous traction and impact achieved by UNest. The Artemis Fund is on a mission to diversify wealth by investing in iconic female founders like Ksenia. Her tremendous vision and ability to meet and exceed targets have impressed us since the moment we met her. We are her unwavering partner in democratizing access to financial stability and freedom for the next generation.” – Leslie Goldman, general partner and co-founder at The Artemis Fund.