Date: unknown
Location: www.wealthmanagement.com
Davis Janowski, Senior Technology Editor, WealthManagement.com
July 2, 2025
1 Min Read
Savvy Wealth founder Ritik Malhotra
Savvy Wealth, a technology platform provider to RIAs with a digital-first bent, announced the closing of a $72 million Series B funding round led by venture capital firm Industry Ventures. New investors Vestigo Ventures and Euclidean Capital also participated, as did existing investors Canvas Ventures, Thrive Capital, The House Fund, Brewer Lane Ventures and former Focus Financial executive Vamsi Yadlapati.
Vestigo is the VC firm founded by former LPL Financial CEO and Chairman Mark Casady, who has also joined Savvy’s board of directors.
Savvy has now raised more than $100 million in total funding, having closed a $26.5 million Series A funding round in August 2024. The startup raised $11 million in a Series A-1 funding round in mid-2022.
The multi-custodial platform provider also has seen significant expansion from its advisor unit, Savvy Advisors, which has grown client assets under management to $2.2 billion.
Savvy, founded by tech entrepreneur Ritik Malhotra in July 2021, has built a proprietary and largely automated and AI-driven technology platform for advisors to offload administrative work, improve client interaction and provide sophisticated investment management tools.
In February, Savvy hired Eric Hurkman as chief technology officer, a newly created role, to expand its product and engineering teams and innovate in areas such as artificial intelligence integration.
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Also, in February, the company hired David Weiner as its new chief growth officer, part of its mission to more than double the number of affiliate registered investment advisors on its network by 2025.
It was only in January that Savvy announced it had surpassed $1 billion in assets and had expanded advisor headcount to 40.
Senior Technology Editor, WealthManagement.com
Davis Janowski is a New York-based technology journalist whose work spans consumer, business and the FinTech sectors.
Prior to his six years with WM, Janowski worked for Forrester Research as an analyst covering Digital Wealth Management. In edition, he has worked for two FinTech startups, Wealthfront and New York-based FeeX, Inc. (now Pontera). His work covering the advisor tech space began in 2007 when he joined InvestmentNews as the advisor industry’s first dedicated technology reporter. His start in tech journalism began as an editor with PC Magazine in 1999 where he later served as an analyst and reviewer.
His work has appeared in The New York Times, WealthManagement.com, Financial Planning, RIABiz, InvestmentNews, PC Magazine, numerous blogs and several books, including Technology Tools for Today's High Margin Practice. He has also been a speaker and moderator at numerous industry conferences.
Outside his day-to-day he is a senior guide for Manhattan Kayak Company in New York City.