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RightCapital secures USD1m seed investment

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RightCapital, a financial planning platform for registered investment advisors and independent broker-dealers, has secured USD1 million in a seed capital fund raise led by Camellia Venture Capital with other individual strategic investors also participating.

Camellia Venture Capital is a New Jersey based venture capital firm that focus on early-stage, high-growth fintech firms.

"We created RightCapital with the goal of developing a next-generation financial planning software that advisors can use to simplify the financial planning experience for their clients," says Shuang Chen, co-founder and CEO of RightCapital. "This round of funding will help us reach more advisors and deliver significant product updates while expanding the financial planning and tax planning capabilities for advisors of all sizes and across all generations."

In the first ten months, since the platform went live in September 2015, RightCapital has on-boarded more than 200 financial advisory firms. The co-founders, brothers Shuang Chen and Song Chen, expect to continue to grow the user-base significantly.

"The extremely successful growth in the early stage is fuelled by the innovative financial and tax planning capability as well as a modern user interface that makes the solution easy to use," Shuang says. "We are the first solution that integrates financial planning and tax planning in a very visually-compelling way. We have demonstrated our ability to deliver an innovative solution that combines rigorous planning capabilities and ease of use. What we have done really resonated with the advisors in a short period of time and we are excited about what we can accomplish with the additional funding and the value from our strategic investors."

The funding will provide the eleven-month-old financial planning platform with additional capital and resources to rollout significant enhancements to the platform that will include expanded lead-generation, a DOL solution and additional financial planning and tax planning capabilities

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