AI WealthTech Platform Raises $28M in Series B Funding
Range, an AI wealthtech platform, raised $28 million in Series B funding led by Cathay Innovation, bringing the total funding to $40 million. Gradient Ventures and other investors also participated in the round.
The Mclean, VA-based company’s AI engine, Rai, delivers wealth management advice 10x to 20x faster while saving members 75% to 90% in fees compared to traditional advisors, the company said.
Since its 2021 founding, the startup has attracted over 1,000 high-net-worth members and manages nearly $3 billion in assets. The platform is experiencing 20% month-over-month membership growth and operates on a transparent flat-fee model, integrating investment services, tax planning, estate planning, retirement planning, and insurance needs.
“Within 10 years, 95% of the population will rely on a trusted platform like Range,” said CEO Fahad Hassan, who co-founded the company along with David Cusatis in 2021. “We’re not just building another fintech solution—we’re fundamentally democratizing access to sophisticated wealth management for all Americans.”
In connection with the funding, Simon Wu, partner of Cathay Innovation, also joins Range’s board of directors.
Pictured: The Range team