Financial planning platform Planswell seeded with $6.8 mln


© 2018 Planswell Inc

Planswell, a Toronto-based financial planning software startup, has opened for business with a $6.8 million seed-stage financing. The investors, which included former senior financial executives, were not identified. Founded three years ago, Planswell uses patent-pending technology to help individuals and families in British Columbia, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia create financial plans and maximize their investment potential. Led by CEO Eric Arnold, the company has already built more than 17,000 free financial strategies for Canadians.

PRESS RELEASE

Planswell is now open for business across the country

The Toronto-based startup has already built over 17,000 free financial plans for Canadians

TORONTO, Jan. 8, 2018 /CNW/ – Effective immediately, Canadians in BC, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia can create a free financial plan in minutes by going to www.planswell.com.

“We’ve seen that basically no one knows what they need to do on a monthly basis to maintain their lifestyle in retirement,” said Planswell CEO and co-founder, Eric Arnold. “It’s been amazing and we can’t wait to ensure that everyone has the same opportunity to secure their financial future, regardless of their current status.”

The team of personal finance and technology experts at Planswell has designed and built the world’s first financial planning engine that shows people how to maximize their investment potential, minimize their borrowing costs, and financially protect themselves and their loved ones. The IP behind the engine is detailed in the company’s patent application.

The company has raised a $6.8 million dollar seed round from a range of investors, including former senior executives from some of Canada’s top financial institutions.

“Over 100,000 financial advisors across Canada will tell you that their ideal client has $1 million or more in investable assets. That’s just under 1% of the population,” said Arnold. “The other 99% have been completely ignored, or worse, have been targets of predatory, high-fee products in the absence of a plan. We’re finding we can save Canadians hundreds of thousands of dollars towards their retirements through better planning.”

How it works

It only takes about three minutes to create a free plan at www.planswell.com. Once you build your plan, you can schedule a free walk-through with a PlanPro, who can fine-tune your plan and give you advice on how to make it a reality.

Build your plan
Answer 30-40 questions in three minutes to create your plan. The questions are easy and can be answered off the top of your head.

Review your plan
You’ll see exactly what to do each month to grow your wealth, reduce your debt, and be protected from financial surprises. Expert phone or chat support is available.

Implement your plan You can take your plan away and implement it yourself, or ask us to assist. We’ll guide you through each step and make it faster and cheaper than anywhere else.

About Planswell
Planswell uses patent-pending technology to create the most intelligent financial plans in the world, absolutely free. We enable people from all walks of life to align their investments, insurance and borrowing with their personal goals. Planswell is currently operating in BC, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia. To learn more, visit www.planswell.com.

For further information: Lauren Arnold, T: 1(855) 752-6793, C: 647-869-1438, lauren@planswell.com

Photo courtesy of CNW Group/Planswell