Conquest Planning, a technology platform providing AI-powered financial planning services, announced a $80 million Series B funding round. The company's software enables financial advisors and institutions to offer personalized financial plans at scale.
The round was led by Growth Equity at Goldman Sachs Alternatives. Participating investors included Canapi Ventures, BDC Capital, Citi Ventures, TIAA Ventures, USAA, BNY, and Portage. This brings Conquest's total funding to over $100 million.
"In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced," commented Jade Mandel, Managing Director at Growth Equity at Goldman Sachs Alternatives.
Conquest plans to use the funding to accelerate its expansion in the U.S. market and further develop its AI-based Strategic Advice Manager (SAM) software. SAM performs complex calculations to help advisors understand the impact of various scenarios on clients' financial goals. The company also intends to invest in technology to improve plan analysis, onboarding, and plan creation, and to develop tools for dynamic content creation. Conquest's new offering, SAM Bytes, aims to engage self-directed investors and foster advisor relationships. The company also enhanced its estate and legacy planning features to better serve high-net-worth families.
Conquest currently serves over 1,000 financial services organizations, including RBC, Manulife, BNY Pershing, and Raymond James, and has created over 1.5 million plans on its platform. More than 60% of the Canadian financial advisor market uses Conquest's services, and the company is experiencing rapid adoption in the U.S. and U.K. markets.
Competitors include firms like MoneyGuidePro, which offers financial planning software for advisors, and RightCapital, another provider of financial planning technology with a focus on automated solutions. These companies also offer various tools and features to support financial advisors in creating and managing client plans.
