We are excited to announce a major milestone in our journey toward innovation and excellence—Element Labs has successfully raised $50,000,000 in new funding. This significant injection of capital comes at a crucial time as we work to accelerate the development of next-generation financial technology solutions in alignment with Fidelity’s enduring mission: to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. As a cornerstone of Fidelity, a company that has been privately held for 77 years and is built on a foundation of market-leading financial services, Element Labs is set to harness these funds to drive technological advancements and enhance digital platforms for a broad and diverse customer base. With assets under administration of $12.6 trillion, including discretionary assets of $4.9 trillion as of December 31, 2023, Fidelity has consistently demonstrated the power of scale and diversified expertise to meet the unique needs of individuals, families, employers, wealth management firms, and institutions across the globe.
The newly raised funds will be deployed to expand our research and development capabilities, foster pioneering collaborations, and further advance technologies that empower our customers to make more informed financial decisions. With more than 74,000 associates operating from our headquarters in Boston and a presence in nine countries spanning North America, Europe, Asia, and Australia, we are ideally positioned to drive industry-leading change. This investment marks a significant step forward in our ongoing commitment to innovation, ensuring that we continue to deliver exceptional value, robust security, and cutting-edge solutions that address the evolving challenges of today’s financial landscape. For more details, please visit our Terms and Conditions at http://go.fidelity.com/LIterms.
