AI FinTech Aveni has raised £12m in a funding round led by PXN Ventures, with participation from existing investors Puma Growth Partners, Lloyds Banking Group, Nationwide and Scottish Enterprise.
The funding will be used to expand its artificial intelligence assurance platform and support the launch of new products designed to help financial services firms oversee AI systems that interact with customers.
Founded in 2018, Aveni develops AI tools for banks, wealth managers and financial advisers. Its existing products include Aveni Assist, which supports advisers and operations teams, and Aveni Detect, a compliance monitoring platform. Both are built on FinLLM, the company’s proprietary language models trained using UK financial services data.
The latest investment will support development of Aveni’s Unified Assurance Platform, which is intended to help firms monitor both human and AI-led customer interactions. As part of that strategy, the company is launching Agent Assure and Agent Approve, products focused on assessing and managing the conduct risks associated with AI agents.
The move comes as financial institutions explore wider use of agentic AI systems while regulators scrutinise how firms maintain oversight of customer outcomes.
Aveni is participating in the Financial Conduct Authority’s Supercharged Sandbox programme and has established an Agent Assurance Expert Council to support the development of AI governance frameworks. The company said it is also working with regulators and industry bodies on emerging standards for AI use in financial services.
Joseph Twigg, chief executive of Aveni, explained, “The continued confidence shown by our existing investors is a powerful endorsement of the direction we’re taking. We have spent seven years building the models, the experience and the regulatory relationships that make us uniquely qualified to solve the hardest problem in AI adoption right now: how do you assure the conduct of an AI agent interacting with a real consumer? Agent Assure is our answer — and this investment accelerates our ability to deliver our full platform at scale.”
Alastair Moore of PXN Ventures said, “Aveni is fast becoming financial advisers’ go-to tool for helping them leverage AI in a safe and appropriate way. The team now has seven years of live deployments and proprietary models built within the UK financial services sector. Their infrastructure is answering one of the biggest questions in AI adoption: how to manage real client interactions and build trust, so advisers can focus on what they do best.
“We’re proud to support Aveni through multiple PXN funds, including the Praetura Growth VCT, as they continue their growth journey and demonstrate the world-class FinTech capabilities of the North of the UK.”
Ben Leslie, investment director at Puma Growth Partners, added, “The impact Aveni is making in deploying AI into UK financial services is already significant, and we continue to see a substantial growth opportunity ahead. With agentic AI adoption accelerating and regulators rightly focused on consistent consumer outcomes, robust assurance for AI agents is rapidly becoming a core requirement for the sector.
“As a standout example of Scotland’s growing strength as a technology hub, Aveni is well placed to lead this next phase. We are delighted to invest again from our Scotland office to support Joseph, Jamie, Professor Lexi Birch and the wider team as they scale the Unified Assurance Platform and launch Agent Assure.”
Kirsty Rutter, FinTech investment director at Lloyds Banking Group, said, “Agentic AI represents a significant opportunity for financial services to enhance customer experience through more personalised interactions. Aveni is helping firms adopt this technology in a safe and responsible way. We’re pleased to continue supporting Aveni’s ongoing development through investment and partnership.”
The funding round follows growing investment across the financial services sector in AI technologies, as firms seek to balance innovation with increasing regulatory expectations around governance, transparency and consumer protection.
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