# Vestwell

> Vestwell is a New York-based fintech that operates as digital savings infrastructure for the American workplace. Founded in 2016 by Aaron Schumm, it provides an API-driven recordkeeping and administration platform that lets employers, financial advisors, payroll providers, and state governments offer 401(k), 403(b), IRA, 529 education, ABLE disability, and emergency savings accounts. By 2026 the company administered more than $50B in assets for over 2 million savers, powered the majority of state-facilitated retirement programs in the U.S., and raised a $385M Series E to expand the modern savings economy.

- **Founded:** 2016
- **Headquarters:** New York, New York, United States
- **Founders:** Aaron Schumm (Founder & CEO)
- **Team size:** ~460 employees (2026)
- **Products:** Workplace Retirement (401(k) / 403(b)), Government / State-Facilitated Savings, 529 Education Savings, ABLE Disability Savings, Emergency Savings & Financial Wellness
- **Notable:** Administers $50B+ in assets for 2M+ active savers (2026), Powers roughly 85% of U.S. state-facilitated retirement programs across 11+ state partnerships, Raised $385M Series E in February 2026; ~$660M total raised

## Products & services

- **Workplace Retirement (401(k) / 403(b))** — Recordkeeping and administration for employer-sponsored retirement plans, including Safe Harbor, discretionary match, and New Comparability plan designs, with Starter(k) and Workplace tiers for businesses of different sizes.
- **Government / State-Facilitated Savings** — Infrastructure powering state auto-IRA programs and multi-state retirement programs, administering payroll-deducted IRAs for workers whose employers do not offer a plan.
- **529 Education Savings** — Administration platform for state-sponsored 529 college and education savings programs.
- **ABLE Disability Savings** — Tax-advantaged savings accounts for people with disabilities, run for government program sponsors.
- **Emergency Savings & Financial Wellness** — Employer-linked emergency savings accounts, student loan repayment matching, and financial education tools embedded alongside retirement plans.
- **Pooled Employer & Multi-Employer Plans (PEP/MEP)** — Pooled plan structures offered through advisors and broker-dealers to lower cost and administrative burden for smaller employers.

## Achievements

- Administers $50B+ in assets for 2M+ active savers (2026)
- Powers roughly 85% of U.S. state-facilitated retirement programs across 11+ state partnerships
- Raised $385M Series E in February 2026; ~$660M total raised
- Acquired Accrue 401k, adding ~30,000 plans to the platform
- Expanded from 401(k) into 529, ABLE, emergency savings, and student loan matching on one platform

## Latest updates

- **2026-02** — Raised $385M Series E led by Blue Owl Capital and Sixth Street Growth, roughly doubling its valuation.
- **2026-02** — Acquired Accrue 401k, bringing approximately 30,000 additional plans onto the platform.
- **2026-01** — Reported surpassing $50B in assets under administration and 2M+ active savers.

## Links

- Website: https://vestwell.com
- LinkedIn: http://www.linkedin.com/company/vestwell
- Twitter/X: https://twitter.com/vestwell
- Facebook: https://www.facebook.com/vestwell401k/

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Profile page: https://yespress.io/vestwell
Published by YesPress — https://yespress.io
Last updated: 2026-07-17