Micruity, a financial technology infrastructure company, has raised $5 million in funding from Prudential, State Street Global Advisors, TIAA Ventures, Pacific Life, and Western & Southern Financial Group, bringing its total funding to $11 million.
Founded in 2017, Micruity simplifies access to annuities and other guaranteed retirement income products. The Micruity platform connects recordkeepers, life insurers, and asset managers through a single connection, “significantly reducing the administrative burden” of managing multiple products across several plans while delivering targeted savings and income solutions.
The Canadian company will use the funding to expand support for accumulation annuities and non-guaranteed income products.“The new funding […]
Full Post at www.coverager.com