In the (very) cluttered robo advising space, with players like SigFig or Wealthfront, it’s hard to imagine any smaller players making progress.
But in comes WiseBanyan.
Launched in 2014, the fintech claimed to be the “first free financial advisor” in the market. It started off helping people save and invest for their goals with a free app. In 2016, the company hit its stride, launching its first paid product (tax-loss harvesting), more than doubling its user base, and nearing a $100 million benchmark in assets under management. The company ended 2016 with more than 20,000 users, up from 9,000 a year ago.