eesburg, Virginia-based AnnuityNet
, the Internet-based annuity sales firm, has closed $20 million in second-round funding from a group of investors, led by Conning Capital Partners
. Other investors include Liberty Financial
which provides one annuity product for AnnuityNet, as well as GE Equity
, and FBR Financial Fund
. The initial round of funding was provided by Lincoln National Life
), which distributes two annuity products through the service.
, the chief executive officer and founder of AnnuityNet said that the funding will help "bring annuities to a broader audience of customers," though the AnnuityNet.com retail site and through private-labeled, affiliate financial web sites.
In addition, Chalke said that AnnuityNet plans to introduce AnnuityNetAdvisor
, an annuity management platform to support the sale and servicing of annuities through financial intermediaries, in the third quarter of 2000.
AnnuityNet currently has partnerships with Bank One
, the Gay Financial Network
and TD Waterhouse
, offering four annuity products from Keyport Life and Lincoln.
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