Clove – Next-gen wealthtech platform
Who says financial advice is only for the wealthy?
Clove is building an AI‑powered financial advisory platform that combines machine intelligence with human advisers to deliver personalized guidance at a fraction of traditional costs.
Founded by Christian Owens of Paddle and Alex Loizou of Trouva, the London company raised $14million (£10million) pre‑seed led by Accel, with Kindred Capital VC, Air Street Capital, and angels like Barney Hussey-Yeo and Patrick Pichette participating.
The system analyses a user's finances, goals, and behavior to craft a financial plan while human advisers focus on high‑value coaching. Clove will charge subscription fees and partner with employers and banks to reach mass‑affluent customers.
The funding will be used to hire advisers, engineers, and designers, and seek FCA authorization for a 2026 launch. By reducing administrative work with AI and emphasizing human empathy, Clove hopes to democratise wealth management.
Will AI make high‑quality financial advice as ubiquitous as streaming music?
#fintechoftheday #wealthtech #AI #UK
Photo: City AM
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