Online financial adviser Betterment has secured $70 million in new funding, boosting its valuation and giving it more clout to compete with rivals in an intensifying market.

The new capital, raised from existing investors, values the New York-based startup at $800 million, up from $700 million in the last financing round in early 2016. Swedish investment firm Kinnevik led the round. Betterment said much has changed since the last influx of capital.

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