PortfolioPilot.com, a groundbreaking AI-driven financial advisory platform, has successfully closed a $2m seed funding round.
This capital boost was supported by Morado Ventures, NEA Angel Fund, Unpopular Ventures, and several esteemed Silicon Valley angel investors.
The platform is pioneering a new era in financial advising, termed as the “next generation financial advisor.” PortfolioPilot.com empowers individuals to manage their finances with confidence, leveraging artificial intelligence and hedge fund-inspired models. It currently boasts over 22,000 users and manages more than $20bn in assets.
The fresh injection of funds is earmarked for enhancing the platform’s capabilities and expanding its reach. This initiative aligns with the company’s strategy to democratise sophisticated financial advice, making it accessible to a wider audience.
PortfolioPilot.com promotes an array of features that stand out in the crowded FinTech landscape. These include low-cost personalized financial advice, a strong fiduciary duty to act in the clients’ best interests, and tailored advice that caters to individual financial situations and goals. Furthermore, the platform offers a free net worth portfolio tracker and a five-minute “report card” assessment, providing users with valuable second opinions on their financial health.
In recent developments, PortfolioPilot.com launched a paid subscription model in August 2023, offering personalized recommendations for a flat fee of $29 per month. This approach has opened the doors to hedge fund-inspired investment insights for the masses. Additionally, Global Predictions, the parent company of PortfolioPilot.com, was recognised as a winner in the prestigious M6 international forecasting competition, showcasing the efficacy of its complex predictive models.
“Our vision is to create a financial advisor that transcends traditional boundaries, leveraging AI and hedge fund-inspired models to provide superior, personalised advice at a fraction of the cost,” PortfolioPilot.com CEO Alexander Harmsen said. “This new funding enables us to enhance our platform and expand our reach, bringing sophisticated financial insights and advice to more investors.”
Previously, PortfolioPilot.com had raised a total of $4m, which includes the current funding round and prior investments.
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