AI fintech Finesse acquired for $1.5 million, eyes $60 million managed assets
Finesse, a young fintech startup using AI to personalize financial services, has just been acquired by a group of industry investors for about $1.5 million.
The deal, confirmed by founder Rohit Rao, mixes cash and stock, giving early backers more flexibility, and is set to supercharge Finesse's growth.
With this move, the company expects its managed assets to jump from around $5 million-$6 million to as much as $60 million in just a year.
Partners to boost Finesse's reach
Rao says joining forces with bigger partners will help Finesse reach way more users through their networks, a key step toward those ambitious growth goals.
The new owners are experienced fintech pros building an AI-focused finance group. While they're keeping their names under wraps for now, they're expected to come out of stealth by the end of the year or so.
Finesse already works with clients like Bloomtree Advisors and BCL, showing off how its tech helps boost user engagement in the finance world.