FinTech news in 401k category

Investment giant BlackRock announced Friday it is taking a minority stake in, and leading a financing round for, venture-backed fintech startup Human Interest. Terms of the deal were not disclosed. Human Interest’s digital retirement benefits platform allows users “to launch a retirement plan in minutes and put it on autopilot,” according to the company.  It \[…\]

Nagpal isn’t worried about the seasonality of the 401(k) product because of the upcoming product roadmap, which includes the education product, investment flows into the retirement product like being able to invest in startups and ETFs, and even HSAs, often described as a 401(k) for healthcare. It would be a few years of self-employment, and building a venture firm later, before Nagpal returned to the moment as one of the early catalysts for his newest startup, Ocho. Perhaps the unique connection between Nagpal’s first company, to his firm, to his newest startup, could hint at what his approach to personal finance may be: diversify across multiple vehicles, redefine what a supercharged investment could look like, and keep on learning. To power that ambitious product spree, Ocho has raised $2.5 million from Nagpal’s own venture firm, Vibe Capital.

The Boston-based asset manager, which administers plans covering more than 20 million participants representing $2.7 trillion in assets, said the launch is expected to take place by midyear, debuting at bitcoin supporter Michael Saylor firm MicroStrategy, which holds billions of dollars of the asset on its balance sheet.