# Suma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/suma

- Industry: Financial Services
- Headquarters: Los Angeles, US
- Website: www.sumawealth.com
- Total disclosed funding: $7M
- Latest round: Seed (Oct 1, 2024)
- Investors on record: 11

## About

Based in California, US, and founded in 2020 by co-founders Beatriz Acevedo, Mary Hernandez, and Xavier Gutierrez, Suma Inc. operates as a fintech company developer of wealthtech platform providing wealth management and digital media solutions for investors. In October 2024, Suma Inc. raised USD 3.8 million in seed funding led by returning investor Radicle Impact Partners, with participation from new investors ResilienceVC, Acumen, Commerce Ventures, Ascendo Venture Capital, and Cooley. Other unspecified investors also participated in the round.

Suma Inc. developed a mobile application platform for known as Suma app, which is a financial technology solution such as managing expense, smart investing, yield savings, asset diversification and family estate planning, paying credit bills, trackers, access to exclusive tips, tools, deals and services, and many more. The company offers digital media, fin-tech and virtual experiences for various topics such as investment, debt management, and sustaining wealth. 

The company generates revenue based on subscription model and charges USD 28.70 yearly for Money Starter package. The firm charges USD 95.90 yearly for Money Pro package.  

The firm plans to use the funds from February 2024 to support new hires across engineering, product, and sales departments, as well as the expansion of technology offerings for enhanced AI personalisation, data, and analytics.

## Funding rounds

- Seed, Oct 1, 2024, $3.8M — Cooley, Acumen, Commerce Ventures, Radicle Impact Partners, ResilienceVC, Ascendo Venture Capital
- Seed, Feb 7, 2024, $2.2M — Radicle Impact Partners, OVO Fund, VamosVentures, American Heart Association
- Seed, Jul 31, 2020, $1M — Gaingels, Chingona Ventures

## Investors

- Gaingels (https://capitalatlas.ai/funds/gaingels) — Seed
- Chingona Ventures (https://capitalatlas.ai/funds/chingona-ventures) — Seed
- Radicle Impact Partners (https://capitalatlas.ai/funds/radicle-impact-partners) — Seed
- OVO Fund (https://capitalatlas.ai/funds/ovo-fund) — Seed
- VamosVentures (https://capitalatlas.ai/funds/vamosventures) — Seed
- American Heart Association — Seed
- Cooley — Seed
- Acumen (https://capitalatlas.ai/funds/acumen) — Seed
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Seed
- ResilienceVC (https://capitalatlas.ai/funds/resiliencevc) — Seed
- Ascendo Venture Capital (https://capitalatlas.ai/funds/ascendo-venture-capital) — Seed