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Penelope Raises $2.1M To Accelerate Small-Business Adoption Of 401(K) Plans

Mar 16, 2022•over 3 years ago

Amount Raised

$2.1 Million

Round Type

seed

Description

Transforming how small businesses build bright financial futures through 401(k)s, Penelope has successfully raised $2.1 million in pre-seed fundraising led by Slauson & Co. Additional investors include Amplify LA, Black Jays and executives from Wells Fargo, Citigroup and US Bank. The funding will be used to create a self-service retirement platform for small and micro businesses, expand Penelope's team and accelerate customer onboarding.

Company Information

Company

Penelope

About

Penelope is the retirement savings platform for small businesses and the 60 million Americans who work for them. A low-cost 401(k) subscription model, Penelope provides affordable and streamlined savings vehicles for small business owners and their employees without hidden charges, hassle or unnecessary jargon. Penelope's intuitive technology platform automates employee investing, streamlines costs and paperwork, and provides learning tools for employees. For more information, visit http://www.Penelope.co.