Vestwell

Its recordkeeping technology enables 300,000 small businesses to offer 401(k) savings plans, as well as more than 30 state-facilitated IRAs and state sponsored 529 college savings plans, helping 1.1 million savers. In May 2023, it announced a partnership with JPMorgan to help power Chase’s small business 401(k) savings platform. It also bought student loan benefits provider Gradifi Solutions from Morgan Stanley last summer to help businesses offer loan repayment benefits to employees. Funding: $275 million from Lightspeed Venture Partners, Fin Capital, Goldman Sachs and others. Latest valuation: $1 billion, according to PitchBook. Date of last valuation: December 2023. Bona fides: Safeguards $30 billion in assets and added Delaware and Maine to its roster of state-sponsored programs in 2023. Founder and CEO: Aaron Schumm, 45, previously founded wealth management fintech FolioDynamix and sold it to Envestnet. Headquarters: New York, New York.

vestwell.com

HQ: New York, New York, United States

500

Finance

Company research

Public company, workplace, funding, and market signals

Updated Aug 16, 2026

Overview

Vestwell is a privately held financial-technology company building infrastructure for workplace, individual, and government savings programs. Its platform connects employers, financial advisors, payroll providers, financial institutions, and government agencies with retirement, education, emergency, disability, and student-loan savings products.

Primary product

A cloud-based savings and retirement platform providing recordkeeping, plan administration, payroll integrations, compliance, fiduciary and investment-management services across 401(k), 403(b), IRA, 529, ABLE, emergency-savings, student-loan, and state-sponsored savings programs.

Founded

2016

Headquarters

360 Madison Avenue, New York, NY 10017, United States

Team size

400-500

Work style

Hybrid

Industry

Financial Services

Sub-industry

Fintech; retirement-plan recordkeeping and workplace savings infrastructure

Offices

New York, New York

Austin, Texas

King of Prussia, Pennsylvania

Scottsdale, Arizona

Business model

B2B SaaS/platform services

Per-plan and per-participant fees

Asset-based investment and advisory fees

White-label infrastructure for financial institutions, payroll providers, advisors, and TPAs

Government-program administration

Funding

Stage

Late-stage venture / growth capital

Total raised

$660M

Latest round

Series E · Feb 2026

Latest amount

$385M

Series E

Feb 2026 · Blue Owl Capital and Sixth Street Growth

$385M

Series D

Dec 2023 · Lightspeed Venture Partners

$125M

Unattributed venture financing

Jul 2023

Series C

Jun 2021 · Fin Venture Capital and Wells Fargo Strategic Capital

$70M

PPP loan

Apr 2020

Series B

Apr 2019 · Goldman Sachs

$30M

Series A

Oct 2017 · F-Prime Capital Partners

$8M

Seed

Sep 2016 · FinTech Collective

$4.5M

People & investors

Leadership

Aaron Schumm

Founder and Chief Executive Officer; Chairman

Dave Sheen

Chief Financial Officer

Jonathan Ferrara

Chief Operating Officer / SVP, Operations and Platform Architecture

Rob Molchon

Former Chief Technology Officer; succeeded by Scott Duncan in March 2026

Scott Duncan

Chief Technology Officer, effective March 2026

Douglas Magnolia

President, Vestwell State Savings

Richard Tatum

President, Workplace Savings / former President of Retirement Services

Patty Kim

Chief People Officer

Allison Brecher

General Counsel and Chief Privacy Officer

Kian Rafia

Managing Director and Chief Investment Officer; Head of Vestwell Advisors

Investors

Work & culture

Vestwell describes a mission-driven, high-growth fintech culture focused on financial inclusion and closing the savings gap. Engineering uses cross-functional Agile squads with bottom-up roadmap and technical decision-making, automation, testing, deployment, and support ownership. The company has emphasized hiring people with enterprise-technology experience in addition to traditional savings-industry backgrounds.

Work style

Hybrid

Compensation

Public job postings show base salary bands such as $195,000-$205,000 for an Engineering Manager, $70,000-$80,000 for a Sales Strategy Associate, and eligibility for bonus-pool participation and new-hire equity. Salary bands vary by location. Visa sponsorship is not publicly confirmed.

Benefits

Health benefits

Generous paid time off

Employee Wellbeing Committee

Hybrid work flexibility

401(k) plan

Company bonus pool for eligible roles

New-hire equity for eligible roles

Product & market

Pricing

Public small-business pricing generally uses a monthly employer base fee plus a per-active-participant fee and an asset-based investment-management fee. Vestwell has publicly listed plans at approximately $39-$175 per month plus $8 per active participant per month and 0.20% asset-based investment management, with plan-specific setup and optional-service fees. Other plans and partner offerings vary.

Differentiators

—Broad savings coverage beyond retirement, including 529 education, ABLE disability, emergency savings, student-loan support, IRAs, and state programs
—Payroll-connected, API-oriented infrastructure with integrations across major payroll and HR platforms
—White-label capability for advisors, TPAs, financial institutions, and payroll providers
—Government savings-program expertise; the company says it powers more than 85% of government retirement savings programs
—Advisor-oriented distribution and support model
—Unified recordkeeping, administration, compliance, fiduciary, investment, and participant-experience capabilities
—Transparent pricing positioning, including a three-year price-lock promise on certain offerings
—Multilingual experiences and AI-powered support capabilities

Technology

TypeScript

Node.js

NestJS

Python

React

Next.js

PostgreSQL

SQL and relational databases

DynamoDB

AWS

Jenkins

Git and GitHub

Docker

PyTorch

scikit-learn

Plaid

Salesforce

Docusign

Stripe

Customers

Financial advisors and registered investment advisors

Employers and small-to-mid-market businesses

Third-party administrators

Payroll and HR platforms including Intuit QuickBooks, Rippling, Paylocity, Deel, Square, OnPay, BambooHR, Check, Gusto, Toast, Patriot Payroll, and Namely

Financial institutions including Morgan Stanley, J.P. Morgan, TIAA, Franklin Templeton, BNY Mellon, and John Hancock

Government agencies and state savings programs including New Jersey Secure Choice, Colorado SecureSavings, RetirePath Virginia, Delaware EARNS, Maine NextGen 529, and CalABLE

Amazon Delivery Service Partners

Competitors

Human Interest

Guideline / Gusto Retirement

Betterment at Work

ForUsAll

401GO

Ubiquity Retirement + Savings

Ascensus

Empower

Fidelity

Vanguard

Scale & contact

Estimated revenue

$200M-$500M annual recurring revenue; Vestwell reported surpassing $200M ARR in February 2026. Independent databases provide substantially lower and conflicting estimates, so this range should be treated as company-reported ARR rather than audited revenue.

Estimated monthly visits

1.5M

Traffic estimate as of Jun 2026

Signals & risks

Acquisition

Jan 2021

Vestwell acquired Sumday, a BNY Mellon subsidiary involved in state-sponsored automatic-IRA and education-savings programs, expanding Vestwell into government savings infrastructure.

Source

Acquisition

Jul 2023

Vestwell agreed to acquire Gradifi Solutions from Morgan Stanley. Terms were not disclosed; the transaction added student-loan and education-benefit capabilities.

Source

Acquisition

Dec 2025

Vestwell announced an agreement to acquire Accrue 401k, the entity supporting Guideline plans excluded from Gusto's acquisition. Nearly 30,000 plans and approximately 350,000 savers were expected to transition.

Source

Acquisition

Jan 2026

Vestwell completed the Accrue 401k acquisition, adding nearly 30,000 retirement plans and approximately 350,000 savers. The transaction materially increases operational and integration complexity, although no shutdown or layoff was reported.

Source

Other

Mar 2026

Vestwell's SEC Form ADV disclosed that Scott Duncan succeeded Rob Molchon as Chief Technology Officer. This appears to be a leadership transition rather than a reported adverse event.

Source

Latest news

Vestwell selected by Intuit as exclusive QuickBooks 401(k) partner

Vestwell · May 2026

Vestwell was selected as Intuit's exclusive partner for QuickBooks 401(k), embedding payroll-connected retirement services into QuickBooks Workforce for small and mid-market businesses.

Vestwell raises $385 million in Series E at $2 billion valuation

Reuters · Feb 2026

Vestwell raised $385 million led by Blue Owl Capital and Sixth Street Growth, bringing reported total capital raised to $660 million and valuation to approximately $2 billion.

Vestwell completes Accrue 401k acquisition

Vestwell · Feb 2026

The completed transaction moved nearly 30,000 plans and approximately 350,000 savers onto Vestwell and expanded offerings across retirement, emergency, disability, education, and student-loan savings.

Vestwell launches Amazon Delivery Service Partners retirement solution

Vestwell · Jun 2025

Vestwell launched a pooled employer plan for Amazon Delivery Service Partners, targeting a workforce segment historically underserved by retirement benefits.

Vestwell announces TIAA partnership for guaranteed retirement income

Vestwell · Sep 2024

Vestwell and TIAA announced a partnership to make TIAA lifetime-income products available to smaller-employer retirement plans through the Vestwell platform.

About / team Advisor products Blog Careers Employer products Homepage LinkedIn company page News and press TPA partners X / Twitter

SourcesVestwell homepage Vestwell team Vestwell careers and benefits Vestwell pricing comparison Vestwell pricing transparency Vestwell Series E announcement Reuters Series E coverage Vestwell LinkedIn Vestwell X

Jobs and careers at Vestwell

22 jobs at Vestwell

Internal Sales Director

On-site

Advisor & National Accounts & TPA Workplace Growth

New York, NY | Austin, TX; Austin, Texas, United States; New York, New York, United States

2d ago

On-site

Full-time