Range, the groundbreaking AI WealthTech platform, has secured $28 million in Series B funding, a move that underscores its ambition to disrupt the traditional wealth management industry. The funding round was led by Cathay Innovation, with participation from Gradient Ventures and other prominent investors. This latest round brings Range’s total funding to an impressive $40 million, signaling strong confidence in its transformative potential.
At the heart of Range’s innovation is its proprietary AI engine, Rai, designed to deliver financial advice at speeds 10-20 times faster than traditional methods while dramatically reducing fees by 75-90%. This efficiency and cost-effectiveness mark a bold departure from the legacy approaches of financial advisors, which have remained largely unchanged for decades. Fahad Hassan, co-founder and CEO of Range, emphasizes the platform’s mission to democratize wealth management, envisioning a future where nearly everyone relies on platforms like Range for financial guidance.
Founded in 2021 by Fahad Hassan and David Cusatis, Range has already achieved remarkable traction. In under two years, it has attracted over 1,000 high-net-worth members and advises on nearly $3 billion in assets. The company’s innovative approach integrates investment services, tax planning, estate planning, retirement planning, and insurance into a seamless, AI-powered ecosystem. Its flat-fee pricing model adds a layer of transparency that traditional wealth advisors, who often take a percentage of client wealth, cannot match.
The Series B funding will support Range’s aggressive growth strategy, with a focus on enhancing product development and scaling its engineering teams. The demand for Range’s services reflects a broader trend: consumers are seeking faster, more comprehensive, and cost-effective wealth management solutions. Simon Wu, a partner at Cathay Innovation and now a Range board member, highlights this shift, praising Range for its ability to deliver holistic insights in hours rather than the months or quarters typical of conventional methods.
Range’s ambition is not just about innovation but accessibility. By lowering barriers and integrating every facet of financial planning into a single platform, Range is poised to make sophisticated wealth management a standard for all, rather than a privilege for the few. This latest funding round positions the company to lead the wealth management industry into a new era defined by speed, efficiency, and inclusivity.