Retirement startup Human Interest in Talks for Fundraising at $3 Billion Valuation

Human Interest, a startup that manages employer retirement accounts, is in talks with investors to raise about $200 million at a valuation of close to $3 billion, more than doubling its valuation from a fundraising a year ago, according to a person with direct knowledge of the fundraising.

The decade-old startup provides employers with 401(K) account management services. It recently generated more than $150 million in annual recurring revenue, according to the person. The financing discussions speak to rekindled investor appetite in fintech startups, whose valuations plunged when interest rates spiked two years ago, but have since rebounded.