Micruity Revolutionizes Retirement Planning with $5 Million Funding Boost

Micruity, a financial technology infrastructure company, has secured $5 million in funding from key players in the industry, including Prudential, State Street Global Advisors, TIAA Ventures, Pacific Life, and Western & Southern Financial Group. This funding brings Micruity's total funding to $11 million, allowing the Canadian company to expand its support for accumulation annuities and non-guaranteed income products. Micruity's innovative platform simplifies access to retirement income products, connecting recordkeepers, life insurers, and asset managers through a single connection. This streamlined approach reduces administrative burdens and delivers targeted savings and income solutions to users. With the new funding, Micruity aims to enhance the user experience for both guaranteed and non-guaranteed income products, bridging the gap for Americans facing retirement savings challenges. The company's CEO, Trevor Gary, emphasizes the importance of providing secure retirement options for all Americans, from those in the drawdown phase to younger savers. Micruity's strategic partnerships with industry leaders like Prudential and State Street Global Advisors highlight the significance of their infrastructure in delivering sustainable retirement solutions. By leveraging innovative technology like the Micruity Advanced Routing System (MARS™), Micruity is paving the way for the pension plan of the future, transforming retirement savings plans into retirement income plans at scale.