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Robo-adviser Wealthfront raises $75M in new funding round

Wealthfront Inc., an automated investment service, announced a $75 million round of financing led by Tiger Global Management LLC.

Palo Alto, Calif.-based Wealthfront is a robo-adviser offering financial planning, investment management and banking-related services exclusively through software. The company doubled its assets under management in 2017 and now manages more than $9 billion.

All existing venture capital investors of Wealthfront, including Benchmark Capital, DAG Ventures, Greylock Partners, Index Ventures, Ribbit Capital, Social Capital and Spark Capital Growth also participated in the latest funding round.