LearnVest wants to fix your poor spending habits, nabs $16.5M to scale its financial planning service

LearnVest wants to fix your poor spending habits, nabs $16.5M to scale its financial planning service ...

Financial planning startup LearnVest has its heart set on fixing your poor spending habits — and minting money because of them. Now, after polishing its product and launching on the iPhone, LearnVest is gearing up for expansion with a new round of funding: $16.5 million in funding, to be exact, with investments from Accel Partners, American Express Ventures, Claritas Capital and others.

Sitting nicely alongside this news, LearnVest, which offers both a money management app and advising services, is also announcing its first West Coast office. The space, located in Phoenix, will serve as the company’s hub for housing and training financial planners. We’re told LearnVest’s new space will hold about 25 people, and that the company plans to “scale up to a few dozen.”

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LearnVest as a company has seen success with its product — according to CEO Alexa von Tobel “the product works; now we’re scaling [it].” Gearing up for this expansion, LearnVest tells us it has new distribution plans in the works, including partnerships with undisclosed companies that offer LearnVest services to their employees.

A “major commercial partnership” is also apparently coming, which could involve American Express, given its fresh stake in LearnVest. We’ll be sure to update you on that deal as news surfaces. Until then, you can check out LearnVest here.

Image credit: Thinkstock

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