Winnipeg-based fintech firm Conquest Planning has secured US$80 million in a Series B funding round led by Growth Equity at Goldman Sachs Alternatives.
The round also saw participation from Canapi Ventures, BDC Capital, Citi Ventures, TIAA Ventures, and USAA, alongside existing investors BNY and Portage.
This brings the firm’s total funding to more than US$100 million.
Founded in 2018, Conquest provides an AI-driven financial planning platform designed to deliver personalised advice at scale to clients of financial advisors, banks, brokerages, insurance firms, and pension providers.
The new capital will support Conquest’s expansion into the US and the development of its proprietary Strategic Advice Manager (SAM), a tool that performs complex calculations to help advisors and clients model various financial scenarios and assess outcomes in real time.
The company also plans to enhance its onboarding process, improve plan creation features, and introduce new tools aimed at improving user experience.
“In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced,”
said Jade Mandel, Managing Director at Goldman Sachs Alternatives, who will join Conquest’s board.
Conquest’s technology is designed to accommodate clients at different life stages, from debt management to retirement planning.
A new feature, SAM Bytes, aims to extend support to individuals not yet working with an advisor, by providing planning tools for early financial decisions.
The platform also allows advisors to remain engaged with these clients over time.
“The era of inefficient and inaccurate trial-and-error-based financial planning is over,”
said Dr Mark Evans, CEO of Conquest.
“As investors demand greater personalisation, we’ve unlocked the power of automation and real-time intelligence to bring advice into the modern age.”
Conquest has also introduced estate and legacy planning tools to assist advisors working with high-net-worth and multigenerational clients.
These features are intended to identify planning gaps and provide tailored recommendations aligned with family legacy goals.
Conquest currently supports more than 1,000 financial services organisations including RBC, Manulife, BNY Pershing, and Raymond James.
The company reports that it now serves over 60% of the Canadian financial advisor market and is expanding its footprint in the US and UK, with nearly 1.5 million financial plans created to date.
Featured image credit: Edited by Fintech News America, based on image by sodawhiskey via Freepik
