ImpactAlpha, August 9 – Employee benefits like health insurance and retirement plans are often too expensive for small and mid-sized businesses. San Francisco-based Human Interest is addressing the issue with a no-fee 401(k) retirement plan for small businesses.
TPG Growth’s Rise Fund led the company’s $200 million Series D round. Rise’s Maya Chorengel called Human Interest “one of the most compelling solutions to the persistent problem that roughly half of Americans will not have enough savings when they reach retirement age.”
Rise is the first impact investor to back the company.