Technology veterans with stints at Stripe and Square on their CVs have raised $3.1 million for a new AI-powered wealth management platform.
Northzone led the seed round, with participation from Protagonist and Designer Fun, for Era, which uses AI to personalise wealth management advice and automate financial tasks in an effort to bridge the "gulf between financial access and ambition".
Era is the brainchild of CEO Alex Norcliffe and COO Lindsay Brady. Norcliffe was previously head of design and product at Stripe and also worked for Square, while Brady is a Stripe alum and has worked for Google.
The platform pairs expertise from human advisors alongside advanced AI to provide tailored financial advice for users at scale. It also puts AI to use automating mundane financial tasks like estimating taxes and moving money between accounts.
To do this, Era pulls in relevant market news and macroeconomic data to improve its recommendations, allowing users to understand daily information about how topics like company earnings, the jobs report and government policies affect their money and portfolios.
Says Norcliffe: "Finance shouldn't be a maze that only a few can navigate. At Era, we're reshaping the financial landscape to make expert advice attainable for everyone, irrespective of their existing knowledge or funds in their bank account."