Canadian financial planning provider, Planswell, was founded in January 2016 and their financial planning tools have been live since early 2018. The company has managed to raise almost $14 in funding, they employ over 50 people, and they have thus far created well over 50 000 free financial plans to their clients.
Planswell offers holistic financial planning tools, and according to CEO Eric Arnold, their “patent-pending technology enables us to produce your plan quickly and at no cost.” Planswell brings together client’s investments, insurance, and mortgages in a gamified and straightforward way so that clients can, for example, effectively track their financial goals. Creating a plan is free, and clients will be charged only if they decide to execute their Planswell’s financial plan.
It remains to be seen if Planswell can expand its current B2C business, in this highly competitive landscape, and could they start licensing their technologies to partners at some point in time.