FIDx, a Berwyn, PA-based provider of an integrated technology platform that connects financial professionals to leading insurance companies, raised an undisclosed amount in growth funding.
The round was led by Prudential Financial, and Global Atlantic, with participation from Envestnet.
The company intends to use the funds to bring its platform and services to new markets and distribution channels.
Led by CEO Rich Romano, FIDx is a technology network that integrates the brokerage, insurance, and advisory ecosystems to offer annuities and insurance solutions from the industry’s leading carriers. The company enables advisors to offer guaranteed income and downside protection as core components of their clients’ portfolios, integrated within the same wealth management platforms they already use every day. FIDx connects advisory firms to insurance carriers through a digitally enabled process so advisors can deliver comprehensive advice and help clients reach their goals.
The firm currently FIDx has relationships with 17 insurance companies, and $24 billion in assets on its platform.