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Habits Inc. Raises $1.1M to Bridge Millennials with Expert Financial Advisors
Habits Inc., a marketplace aiding young families in finding verified financial advisors, has secured $1.1 million in pre-seed funding, led by Atlanta Ventures. Following a successful beta test with over 50 advisory firms, Habits utilizes a matchmaking platform that requires user verification, bank linking, and a detailed survey to generate personalized advisor profiles. The funding will enable team expansion and product development, enhancing features for advisors and data analytics. CEO Jack Boudreau and co-founder Veera Budhi aim to scale the platform and reshape financial service engagement. Habits aspires to become a personal financial media brand, combining content and advisory services.
ION and Avalara Team Up to Revolutionize Tax Compliance in Energy Trading
ION Commodities has partnered with Avalara to enhance tax compliance for energy trading firms by integrating Avalara’s AvaTax for Energy into ION’s commodity management platforms. This collaboration aims to simplify the complex tax compliance landscape in the energy sector, addressing challenges like varying tax rates and regulatory requirements. The integration will reduce errors, improve accuracy, and automate compliance tasks, ultimately minimizing audit risks and penalties. Both companies emphasize the partnership’s significance in streamlining compliance processes and enhancing operational efficiency for over 1,200 clients globally. This initiative supports ION’s mission to provide comprehensive solutions for the energy and commodities industry.
Arva AI Secures $3M in Google-Led Funding to Revolutionize KYB and AML Automation Solutions
Google’s Gradient Fund has led a $3 million seed investment in Arva AI, a startup innovating Anti-Money Laundering (AML) and Know Your Business (KYB) compliance automation for banks and FinTechs. This funding, supported by Y Combinator and other investors, emphasizes the growing significance of regulatory technology. Based in Silicon Valley, Arva AI’s AI-driven platform streamlines KYB processes by converting unstructured data into actionable risk assessments, enhancing compliance and fraud detection. The funds will be used for product development and market expansion, positioning Arva AI to transform compliance operations in the financial sector.
Altruist Raises $152M in Series F Funding to Accelerate Growth of WealthTech RIA Platform
Altruist, a technology-driven firm for independent registered investment advisors (RIAs), has raised $152 million in a Series F funding round led by Singapore’s GIC and other notable investors, boosting its valuation to approximately $1.9 billion. The firm offers a fully integrated custodian platform with tools for account management, trading, and reporting, enabling advisors to effectively manage client portfolios. In 2024, Altruist launched new products, including high-yield cash accounts and tax management tools, driving significant growth and tripling its assets under management. This funding strengthens Altruist’s mission to democratize financial advice and enhance the advisor-client relationship.
HUB International Launches Innovative Small Business Insurance Solution to Enhance Private Client Services
HUB International has launched HUB Private Client Small Business Solutions, designed to assist high-net-worth individuals in managing their small businesses. In collaboration with Insureon, this service offers customized insurance coverage that addresses the unique risks of entrepreneurship, ensuring both business operations and personal wealth are protected. Key features include tailored coverage, liability management, and wealth protection. Katherine Frattarola, HUB Private Client’s Executive VP, highlights the importance of understanding liabilities in business ventures, while Insureon’s Jeff Kroeger emphasizes their commitment to providing personalized coverage for small business owners. Clients benefit from expert guidance and ongoing support throughout their business journey.
Pennylane Raises €75M to Revolutionize Electronic Invoicing Across Europe
Pennylane, a Paris-based accountancy platform, has secured €75 million in funding to enhance its operations in the European electronic invoicing market. Led by investors like Sequoia Capital and Capital G, this capital will bolster Pennylane’s services for small and medium enterprises (SMEs), which include expense management, invoicing, and cash flow monitoring. The company plans to expand its workforce from 550 to 800 by 2025, focusing on research and development. Pennylane aims to improve features for accountancy firms and streamline invoice management, reflecting its commitment to innovation and growth in the evolving financial landscape.