LearnVest, one of New York's fastest-growing startups, just got acquired by Northwestern Mutual for more than $250 million

Vivien Killilea/Getty ImagesAlexa Von Tobel.

Affordable financial planning startup LearnVest has been acquired by Northwestern Mutual. The sale was for "more than $250 million in cash," Fortune's Leena Rao reports.

LearnVest was founded in 2007 by Alexa Von Tobel, a former Morgan Stanley trader and Harvard Business School drop-out.

It's a free resource chock-full of articles, advice, and other resources to help people become better financial planners.

Customers also have the option of paying $299 for a financial planner that can provide guidance on spending, budgets, and more.

The New York-based startup raised $69 million in five rounds from Northwestern Mutual, Accel Partners, American Express Ventures, and more. It had raised $75 million total, according to Fortune.

Check out Fortune's full report here.

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