Artificial intelligence technology provider Saturn has raised $15m to accelerate the development of next-gen AI tools for advisers.
Established in 2023, the firm aims to make human-led advice accessible to the masses by removing the burden of compliance for advisers with AI technology.
This funding, Saturn said, will enable advisers to deliver more scalable and compliant advice. It will also expand its engineering, product, and partnerships teams to boost industry collaboration.
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Saturn AI founder Amal Jolly said: “Behind every financial plan is a human story. Advisers and their teams quietly change lives, giving families confidence and peace of mind.
“By doing the heavy-admin-lifting and making compliance much more reliable and less painful, we can help financial advice professionals offer their services to more people at a significantly lower cost.
“We started this business to harness technology to help close the advice gap. Everything we build has advisers’ compliance challenges in mind.
“Our compliance experts are continuously developing tech that not only helps them serve clients more efficiently but that’s adapted to their regulatory requirements.
“As we continue to bring the cost to serve advice down, we will help the advice profession to improve the quality, cost, and scale of services in the UK, enabling them to reach more people and change lives for the better.”
The Series A funding round was led by European VC Singular, with participation from Shapers, Y Combinator, and Zeno Ventures.
Jeremy Uzan, co-founder and GP at Singular, added: “We have rarely seen such an ambitious, high-velocity founding team that combines deep technical expertise with real industry insight.
“They have built an exceptional group around them that moves fast, executes with focus and attracts top talent. We are excited to partner with the team to build a category-defining company that transforms wealth management.”
