SigFig, an independent San Francisco-based wealth management technology company, raised $40 million in financing from a number of leading financial institutions, including Eaton Vance, Comerica Bank, New York Life, Santander InnoVentures and UBS, and venture capital firms Bain Capital Ventures, DCM Ventures, Nyca Partners and Union Square Ventures.

Comerica also provided a new $7 million credit facility to extend and expand the previous facility.

This financing solidifies SigFig’s position as a provider of digital technology to financial institutions across the wealth management, banking, and insurance industries. SigFig will use the funding to accelerate the expansion of its team and technology platform as it scales its enterprise strategy of building investment technology for a wide range of financial institutions based on those firms’ distinct corporate strategies and individual client needs.

“Today’s announcement signals a major vote of confidence by some of the world’s most respected financial institutions in the quality of SigFig’s enterprise wealth management technology solutions,” Mike Sha, CEO of SigFig, said. “Our business-to-business strategy of partnering with some of the largest financial services companies in the world will help us rapidly scale and achieve our mission of giving all investors, large and small, access to high quality unbiased financial advice.”