Swedish investment company Kinnevik, whose executive chairman Cristina Stenbeck stepped down last week, has bought $65 million worth of shares in independent robo-advisor Betterment.
According to a company statement, Kinnevik’s acquisition was part of a $100 million financing round that included previous investors Bessemer Venture Partners, a venture capital firm owned by the Phipps family, as well as Anthemis Group and Francisco Partners.