Range, an all-in-one AI WealthTech platform, announced it raised $28 million in Series B funding, led by Cathay Innovation and joined by Gradient Ventures and other investors. This funding round brings the company’s total funding to $40 million.
Traditional financial advisors have offered the same types of wealth management services for consumers for decades so it is due for a disruption. Range is overhauling the sector with a new AI-based engine they created named: Rai. So they are able to provide superior advice 10-20x faster and save their members 75-90% more in fees than traditional wealth advisors.
In less than two years, Range attracted over 1,000 high-net-worth members and now advises them on nearly $3 billion in assets. And the new capital will fuel Range’s ambitious expansion plans, accelerating product development and scaling its engineering teams to enhance its AI-powered platform. This investment comes at a time when Range is seeing unprecedented demand for its comprehensive wealth management solutions, which seamlessly integrate investment services, tax planning, estate planning, retirement planning, and insurance needs.
Founded by Fahad Hassan and David Cusatis in 2021, Range is an all-in-one wealth management solution. And it connects every aspect of wealth management including tax filing, estate planning, retirement planning, insurance, and investments plus their in-house financial advisors optimize each member’s portfolio. Range utilizes a transparent, flat-fee pricing model rather than taking a percentage of a client’s wealth.
KEY QUOTES:
“The wealth management industry is witnessing a seismic shift, and Range is at the forefront of this transformation. Within 10 years, 95% of the population will rely on a trusted platform like Range. We’re not just building another fintech solution—we’re fundamentally democratizing access to sophisticated wealth management for all Americans.
– Fahad Hassan, co-founder and CEO of Range
“By and large, the wealth management industry hasn’t changed in more than 75 years. Fahad, David, and the entire Range team are bringing much-needed innovation to an outmoded industry with a service that’s affordable, convenient, and provides holistic insights and advice in hours versus months or quarters. We look forward to partnering with them to supercharge their success.”
– Simon Wu, Partner of Cathay Innovation, who also joins Range’s board of directors
