Practifi, a business management platform for financial advisors, today announced its $16.3 million Series B funding led by Updata Partners, with participation from existing Series A investors Equity Venture Partners (EVP). With this investment, Practifi plans to scale the team, expand presence around the globe, and invest in the software platform to further elevate the client experience.
“I’m tremendously proud of how much we’ve accomplished in the U.S. since establishing our Chicago office in 2018, but this is only the beginning. Our continued partnership with EVP and our new partnership with Updata will help us drive even more growth. Our vision is to create the most efficient business management platform possible for financial advice firms,” stated Glenn Elliott, co-founder and chief executive officer of Practifi.
Adrian Johnstone, co-founder and chief commercial officer, added, “With so much pressure across advice firms, we are deeply committed to extending our platform to add even more value. We’ve been hard at work on some truly amazing new features and integrations, and this investment will propel our product development even faster.”
Driven by a passion for the client experience, Practifi’s collaborative platform connects the tools needed to drive efficient operations so advisors can concentrate on building trust and positive relationships with their clients.
Carter Griffin, general partner of Updata, added, “In a competitive market, Practifi has created a tool that enables growth, compliance, and efficiency for financial advice firms. We invested in Practifi because they have a genuine vision for an industry that needs revolutionizing. We’re excited to be partnering with them as they build exciting new features and create a more innovative financial services solution.”
