US wealthtech Range lands $28m Series B funding round
Range, an AI-powered wealthtech based in the US, has secured $28 million in a Series B funding round led by Californian venture capital firm Cathay Innovation.
Range bags $28 million in Series B funding round
The round, which brings the company’s total funding to date to $40 million, also featured participation from a number of additional investors including Gradient Ventures.
Founded in 2021 and headquartered in McLean, Virginia, Range offers an array of wealth management services through its platform, covering retirement planning, tax filing, estate planning, insurance, and investment needs.
The company’s platform is powered by its AI engine, Rai, which Range says can deliver financial advice “10-20x faster” than traditional wealth advisors.
The wealthtech says that in less than two years, it has “attracted more than 1,000 high-net-worth members and now advises them on nearly $3 billion in assets”.
The fresh funding will be used to fuel the start-up’s product development and expansion plans, with the company also looking to grow its engineering teams. Range is currently advertising multiple roles in financial planning, operations, and customer success on its website.
Range adds to the growing list of wealthtechs to secure new funding in recent months, following Reflexivity’s $30 million Series B, Farther’s $72 million Series C, and Moneybox’s £70 million rounds from October.
