https://techcrunch.com/2022/01/26/unpacking-the-ubs-wealthfront-deal/

Banking giant UBS announced earlier today that it will purchase venture-backed robo-advisor Wealthfront in an all-cash transaction worth $1.4 billion.

Wealthfront, which raised just north of $200 million while private, per Crunchbase data, is one of a few wealth management services that grew on the back of offering automatic investing tools to consumers. Betterment ($435 million in funding, per Crunchbase) and Personal Capital ($265 million in raised capital, according to the same data source) are other related plays.