Key US WealthTech investment stats in Q4 2025:
- US WealthTech deal activity grew by 27% YoY
- Nevada emerged as one of the top US WealthTech hubs as companies based in the state secured 13% of all deals in the country
- Range, an AI-powered wealth management platform delivering automated, institutional-grade financial planning to US consumers, completed one of the biggest US WealthTech deals of the quarter after the company raised $60m in a Series C funding round
US WealthTech deal activity grew by 27% YoY
In the US WealthTech market, activity strengthened between late 2024 and late 2025, with mixed momentum across funding and deal volumes.
In Q4 2025, companies secured $936.4m, representing a 2% increase from the $921.2m raised in Q4 2024.
Deal activity expanded more meaningfully, rising to 99 transactions, a 27% increase from the 78 deals recorded in Q4 2024.
On a sequential basis, funding improved from $887.8m in Q3 2025 to Q4 levels, while deal volume eased slightly from 107 deals.
Overall, this points to a gradual stabilisation in capital deployment, with funding levels holding relatively steady while transaction activity recovered compared with the prior year.
Nevada emerged as one of the top US WealthTech hubs as companies based in the state secured 13% of all deals in the country
At a state level, California remained the leading WealthTech hub in Q4 2025, with companies securing 33 deals (33% share), representing an 83% increase from the 18 deals (23% share) in Q4 2024.
Nevada emerged as the second most active market with 13 deals (13% share), entering the top rankings as activity diversified geographically.
New York recorded 10 deals (10% share), representing a 33% decrease from 15 deals (19% share) in Q4 2024.
Meanwhile, Illinois, which previously completed 7 deals (9% share), dropped out of the top three.
Despite varied state level performance, California significantly increased both its deal count and overall market share, reinforcing its position as the core centre of US WealthTech investment activity.
Range, an AI-powered wealth management platform delivering automated, institutional-grade financial planning to US consumers, completed one of the biggest US WealthTech deals of the quarter after the company raised $60m in a Series C funding round
Which was led by Scale Venture Partners, with participation from Gradient Ventures, Cathay Innovation and 53 Stations, bringing total capital raised to over $100m.
The funding will accelerate hiring across AI, product and go-to-market functions while expanding enterprise partnerships and enhancing its AI wealth assistant Rai with predictive planning and proactive tax optimisation capabilities.
The US wealth management industry oversees more than $90tn in assets, yet only 1% of Americans have historically worked with a financial adviser, with Range targeting this underserved segment through lower-cost AI-driven planning.
The company currently manages $400m in AUM and $9.5bn in AUA across 5,000+ high-net-worth clients across all 50 states.
It has delivered 300% YoY revenue growth.
Rai now handles thousands of financial queries each month, it has reduced messaging to human advisers by 50%.
Range is also developing additional AI agents focused on compliance, tax optimisation and investment guidance while preparing to expand into broker-dealer services and scale West Coast operations.
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