Capitalize provides a digital platform that enables consumers to locate and transfer their retirement assets, such as 401(k)s, into Individual Retirement Accounts (IRAs) with ease. By utilizing proprietary technology, Capitalize streamlines the rollover process, saving users time and ensuring they can effectively manage their retirement savings.
Funding
$33.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
RVFounders
Product
Problem
Many individuals find the process of rolling over their retirement accounts, such as 401(k)s, into an IRA to be complex and time-consuming, often involving extensive paperwork and direct interaction with multiple financial institutions. This complexity can lead to procrastination, missed investment opportunities, and a lack of control over retirement savings.
Solution
Capitalize streamlines the 401(k) to IRA rollover process through a digital platform that automates the necessary steps. The platform helps users locate their existing 401(k) accounts, manages the transfer paperwork, and facilitates the selection of a suitable IRA. By integrating with leading IRA providers, Capitalize offers a simplified experience that saves time, reduces hassle, and provides users with greater control over their retirement funds. The service is offered free of charge, with revenue generated through partnerships with preferred IRA providers.
Target Audience
Capitalize primarily targets individuals who have old 401(k) accounts from previous employers and want to consolidate and manage their retirement savings more effectively through an IRA.
Features
- Account aggregation: Locates existing 401(k) accounts using employer and provider information.
- Automated paperwork: Handles and completes all necessary rollover documentation.
- IRA comparison: Provides tools to compare and select an IRA based on individual needs.
- Integration with IRA providers: Streamlines the rollover process with partner institutions.
- Secure platform: Employs bank-level encryption to protect user data.
- Rollover support for 403(b) and Roth 401(k) accounts.
- Educational resources: Offers guides and FAQs to help users understand the rollover process and IRA options.