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Web Startup Aims to Protect Your Bottom Line

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This story appears in the October 2012 issue of Entrepreneur. Subscribe »
SigFig.com

Based in San Francisco

Employees: 40

Funding from DCM and angel investors: $10 million

Assets synced to the site: $30 billion

Potential savings identified for investors: $300 million

What it is

Most financial advice is a witch's brew of hidden fees and other costly "gotchas" that can turn investment gains into losses. SigFig is a free site that exposes some of this. In less than 60 seconds, it runs all your investments--401(k)s, IRAs, trading and managed accounts, mutual funds--through its ever-evolving algorithms to show you where you're getting burned from fees and overcharges. The site then makes recommendations for changing underperforming assets. And it does all this with bank-level security. In a little over a year, the company has synced with some $30 billion in customer assets.

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