Vestwell closed a $385 million Series E financing on February 18 2026, led by Blue Owl Capital and Sixth Street Growth, with participation from Neuberger Berman, SLW, Morgan Stanley, Franklin Templeton, TIAA Ventures and HarbourVest. The round doubles Vestwell’s valuation to $2 billion and brings total capital raised to $660 million.
The capital injection will expand Vestwell’s distribution across payroll, benefits, financial institutions and government programs, and accelerate the development of AI‑driven savings experiences and new investment‑grade products. It also supports the company’s plan to broaden savings pathways beyond retirement, adding emergency, education and disability accounts.
Vestwell’s business metrics underscore the strength of the investment: annual recurring revenue exceeds $200 million, assets under administration surpass $50 billion, and the platform serves more than 2 million active savers. The Accrue 401k acquisition added nearly 30,000 plans, extending Vestwell’s reach across major payroll providers.
"We're focused on an ambitious goal to close the $50 trillion savings gap in America. This capital allows us to move faster on the work that matters most…We're deepening the intelligence behind the platform and expanding access beyond retirement so more people can save in ways that best fit their lives," said Vestwell founder and CEO Aaron Schumm.
Blue Owl’s involvement underscores its strategy of partnering with high‑growth fintech platforms that complement its permanent‑capital model. "Vestwell has built a resilient platform with strong underlying economics and a clear path for continued expansion…Vestwell is building long‑term infrastructure for the savings ecosystem, enabled for today's age of AI," said Tim DeGrange, principal at Blue Owl Capital.
The round also signals confidence from other investors. "Vestwell's platform has reached an important inflection point…we believe Vestwell is well‑positioned to build on its momentum and expand its impact over time," said Alex Goodman, principal at Sixth Street Growth. "The Vestwell team has built a leading savings platform that is extending its reach across major payroll providers with the Accrue 401k acquisition," added Michael Noryko of SLW.
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