A spokesperson for Makara declined to disclose the transaction amount, but as part of the deal, Makara's employees will join Betterment when it closes. The deal is expected to close later this quarter.
"We developed Makara to bring an easy and accessible long-term investing approach to cryptocurrencies.
"Makara is unique in offering consumers managed crypto portfolios combined with the guidance and ease-of-use that have defined Betterment," Levy said.$160 million in growth capital to boost its core retail investment products and advisor services. Other robo advisors with a crypto focus have drawn venture capital attention, including Stacked, which raised
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