The underwriters at Silicon Valley Bank (SVB) took a look under the hood and decided 401GO is worthy of a partnership with them, via a $3-million growth capital term loan.
With these funds, we will develop new products and bring on key new talent while advancing existing partnerships. We will also be able to offer our revolutionary, tech-forward retirement savings products to a broader range of businesses.
“For the past several years 401GO has maintained an annual growth rate over 150%. SVB was excited by our growth and other key metrics and worked with us to make this loan happen. This infusion comes with the confidence from our investors that we will continue that track record of success,” says co-founder and CEO Dan Beck. “The faith the SVB team has in us is matched by our determination to continue growing and innovating.”
“This loan comes at a time of great expansion. We plan to utilize it to continue our development while maintaining our history of exceptional service,” says Matthew Jones, Director of Financial Planning and Analysis. “It gives us the power to expand our customer base to serve more individuals.”
401GO is committed to providing the retirement planning experience workers are looking for. We will continue to simplify the process with our groundbreaking technology to ensure a more secure financial future for all. We are grateful to the team at SVB for their acknowledgment of our unmatched ability and look forward to continuing our partnership.
