Capitalize provides a platform that digitally locates and transfers legacy retirement accounts (such as 401(k)s) for consumers and financial institutions. Its core product includes enterprise-grade APIs, most recently an Embedded Rollover API that lets partners power rollovers natively in onboarding and funding flows. Since launching in 2020, the company is processing several billion dollars of rollover volume annually, and both rollover volume on the platform and revenue have grown approximately 6x in the last 18 months. A meaningful portion of growth has come from its Enterprise business, which embeds Capitalize technology into partner flows to find and transfer employer‑sponsored retirement accounts. Capitalize plans to use new funding to accelerate technology investment in its core rollover platform, add features and transfer types, and expand support for partners, financial advisors, and recordkeepers. The company has received recognition from TIME, Fast Company, and Forbes for its product and impact on retirement savings. Capitalize offers an online platform that helps consumers locate misplaced 401(k) accounts, compare and open IRAs, and consolidate retirement plans for free. The service automates a process that is often manual or accessible only to those with large asset balances, and it also provides employers a free offboarding rollover service. Capitalize earns referral fees from provider partners when users open IRAs through commercial relationships. The company was founded by Gaurav Sharma and CTO Chris Phillips in late 2019 and formally launched last September. Since launch the platform has processed almost $10 million in rollover volume and attracted early users during pandemic-related layoffs. Capitalize plans to use new capital to refine and streamline its product and continue investing in technology. Capitalize is an independent fintech platform that locates former 401(k) accounts and initiates rollovers on users' behalf, offering the service for free. The platform matches users to IRAs at leading financial institutions and manages the entire rollover process as an online alternative to the manual, paper-based process. Capitalize aims to address frictions in the $20 trillion retirement savings market by helping Americans consolidate legacy 401(k) accounts as they change jobs. The company accelerated its launch to help workers affected by COVID-related layoffs and cites market statistics such as over 15 million job-changers annually and high levels of cash-outs. Over time Capitalize intends to help users manage all of their employer-sponsored and individual retirement accounts as they move throughout their careers. The company closed a $2M Seed round and will use the funding to build out platform capabilities and hire additional operations, product, and engineering team members.

Total raised

$34M

Funding rounds

3

Latest round

Series B

Latest activity

Aug 2024