Calgary-born fintech OneVest has secured $27 million in Series B funding to enhance its wealth management technology platform.
The funding round was led by Salesforce Ventures, with new investors Allianz Life Ventures and TIAA Ventures joining. Returning backers include OMERS Ventures, Deloitte Ventures, Fin Capital, Luge Capital, and Pivot Investment Partners.
Founded in 2021 by Amar Ahluwalia, Jakob Pizzera and Nathan Di Lucca, OneVest offers a wealth-as-a-service platform enabling financial institutions to provide personalized digital wealth management through simple APIs.
In 2023, OneVest secured a $17 million Series A funding round led by OMERS Ventures to accelerate growth and expand into the U.S. market.
“We are tackling massive challenges in an industry that’s been traditionally slow to adopt new technologies,” said OneVest CEO Amar Ahluwalia. “With this new funding, we are poised to achieve our goal of becoming the leading wealth management platform in North America.”
OneVest’s modular platform helps financial institutions modernize their wealth management services, offering end-to-end or customizable solutions for banks, Registered Investment Advisors (RIAs), asset managers, and insurance companies. By reducing reliance on legacy systems and manual processes, the platform enables firms to cut costs and improve efficiency.
The company is expanding its AI capabilities to enhance client engagement and is increasing its focus on alternative investments to help enterprises diversify portfolios. OneVest is also strengthening partnerships with industry giants such as BlackRock, Vanguard, and Salesforce Financial Services Cloud to broaden its reach.
“With many of our clients using Salesforce, we are deepening our integration to unify the client-advisor experience,” the company stated.
With an estimated $84 trillion set to transfer from Baby Boomers to Gen X and Millennials, OneVest aims to equip enterprises with the tools to navigate this generational wealth shift. The new funding will support the company’s growth and product development as it continues to shape the future of wealth management technology.
Last year Forbes recognized OneVest as one of Canada’s Best Startup Employers.
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