Arca, a wealth management firm built around AI tools and human advisers, has come out of stealth with $64m in seed and Series A funding.
The company said its Series A round brought in $48.5m, led by General Catalyst, with participation from Index Ventures and Venrock.
Its seed round totalled $15.5m and was led by Venrock.
Arca oversees more than $1bn in client assets and employs 28 people across advisory operations, product and engineering.
According to the company, the new capital will support efforts to add clients, increase the number of advisers, and further build its platform and brand.
The company model combines direct advisory work with AI systems that take on routine and repetitive tasks.
It said this is intended to leave advisers with more time for client-facing work and tailored financial guidance, while reducing time spent on administration and operational processes.
Arca founder and CEO Rron Rexha said: “We want every client to feel like the only person in the room because of our unparalleled service and white-glove anticipation. Arca empowers our advisors to cultivate the level of client relationships and trust required to serve as capable and caring financial stewards, while eradicating the most cumbersome aspects of wealth management through our AI-native infrastructure. We give our advisors the conditions to do their best work, so they can focus on what only they can do: being there for their clients.”
Arca board and adviser group includes several figures from the wealth management sector.
Among them are Bill McNabb of Vanguard, Jason Wenk of Altruist, Morgan Housel, author of The Psychology of Money, Peter Crawford of Charles Schwab, Alex Tran and Nat Levy-Westhead of General Catalyst, and Nick Beim of Venrock.
“AI-driven wealth firm Arca lands $64m investment” was originally created and published by Private Banker International, a GlobalData owned brand.
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