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Range has secured $28 million in Series B funding to enhance its AI-powered wealth management platform, which integrates financial tools like investment, tax, and retirement planning. The company’s innovative model delivers faster, cost-effective financial guidance while managing nearly $3 billion in assets. This funding will support product development, team expansion, and scaling its technology to meet growing demand.
The New Face of Wealth Management
Range is reshaping the wealth management industry with its AI-powered platform, offering users streamlined and personalized financial planning. By integrating advanced artificial intelligence through its proprietary engine, Rai, Range delivers comprehensive financial tools that cover investments, taxes, estate planning, and insurance in one ecosystem. The company’s goal is to make sophisticated financial advice accessible to a broader audience while eliminating inefficiencies that plague traditional models.
Membership growth has been significant, with a reported increase of 20% month-over-month, demonstrating the demand for a more modern approach to wealth management.
The $28 Million Milestone
Range recently secured $28 million in Series B funding, led by Cathay Innovation, with participation from Gradient Ventures and other prominent investors. This funding round pushes the company’s total investment to $40 million, reinforcing confidence in its disruptive potential.
Cathay Innovation’s Simon Wu highlighted the importance of transforming an outdated industry, praising Range’s flat-fee model and holistic approach. The funds will support Range’s expansion plans, including scaling its AI-driven capabilities and hiring additional engineering talent.
Why Traditional Wealth Management Needs a Rethink
Conventional wealth management services often rely on a percentage-based fee structure, making them less accessible and cost-effective for the average client. These services can also be slow, with turnaround times extending to months for actionable advice.
Range uses technology to bypass these limitations. Its AI engine provides faster, data-driven insights, enabling users to access recommendations in hours rather than weeks. By adopting a flat-fee model, the platform eliminates conflicts of interest, ensuring advice is centered on the client’s goals.
Key advantages of Range’s model include:
- Faster access to financial guidance (10-20x improvement).
- Reduced fees, saving users 75-90% compared to traditional services.
- Holistic management across investments, taxes, insurance, and more.
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From Start-Up to $3 Billion in Advised Assets
Founded in 2021 by Fahad Hassan and David Cusatis, Range has rapidly built a strong foothold in the wealth management sector. In under two years, the company has attracted over 1,000 high-net-worth clients and advises on assets totaling nearly $3 billion.
The co-founders emphasize that the company’s growth stems from a commitment to innovation and client-centric design. By consolidating multiple financial services under one platform, Range simplifies complex processes for its users while maintaining a transparent pricing structure.
What’s Next for Range?
With the new funding, Range aims to enhance its platform and expand its reach. The company plans to develop additional features for its AI-driven system, enabling more precise financial planning tools.
Engineering teams will be strengthened to improve the scalability and reliability of the platform as user demand continues to grow. Efforts will also focus on integrating advanced capabilities for retirement planning, estate management, and insurance solutions, positioning the company as a comprehensive financial partner.
Transforming Financial Services for Everyone
Range’s approach to financial services has implications beyond individual users. By prioritizing accessibility and efficiency, it sets a benchmark for how technology can redefine wealth management.
Industry leaders have taken note, with experts describing Range’s model as a necessary evolution in an often rigid sector. As the platform continues to grow, its potential to democratize wealth management could influence broader industry practices, making financial planning tools available to a wider audience.
Range’s continued success underscores the growing role of AI in reshaping financial landscapes, highlighting the value of innovation in fostering more inclusive and efficient services.
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