AI WealthTech company Range Raises $28 Million Series B Led by Cathay Innovation
Range, an AI WealthTech platform, secured $28 million in Series B funding led by Cathay Innovation, bringing total funding to $40 million. The company's AI engine, Rai, delivers wealth management advice 10-20x faster while saving members 75-90% in fees compared to traditional advisors. Since its 2021 founding, Range 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.
Range, una piattaforma WealthTech basata su intelligenza artificiale, ha ottenuto 28 milioni di dollari in un finanziamento di Serie B guidato da Cathay Innovation, portando il finanziamento totale a 40 milioni di dollari. Il motore di intelligenza artificiale dell'azienda, Rai, fornisce consulenze per la gestione patrimoniale da 10 a 20 volte più velocemente, riducendo i costi per i membri dal 75% al 90% rispetto ai consulenti tradizionali. Dalla sua fondazione nel 2021, Range ha attratto oltre 1.000 membri ad alto patrimonio netto e gestisce quasi 3 miliardi di dollari in attività. La piattaforma sta vivendo una crescita mensile del 20% nei membri e opera con un modello di tariffa fissa trasparente, integrando servizi di investimento, pianificazione fiscale, pianificazione successoria, pianificazione pensionistica e esigenze assicurative.
Range, una plataforma WealthTech impulsada por inteligencia artificial, ha conseguido 28 millones de dólares en financiamiento de Serie B liderado por Cathay Innovation, llevando el financiamiento total a 40 millones de dólares. El motor de IA de la compañía, Rai, proporciona asesoramiento en gestión patrimonial de 10 a 20 veces más rápido, ahorrando a los miembros entre el 75% y el 90% en tarifas en comparación con asesores tradicionales. Desde su fundación en 2021, Range ha atraído a más de 1.000 miembros de alto patrimonio y gestiona casi 3 mil millones de dólares en activos. La plataforma experimenta un crecimiento mensual del 20% en matrículas y opera bajo un modelo de tarifas fijas transparente, integrando servicios de inversión, planificación fiscal, planificación patrimonial, planificación de jubilación y necesidades de seguros.
Range, 인공지능 기반 WealthTech 플랫폼이 Cathay Innovation이 주도하는 Series B 펀딩에서 2800만 달러를 확보하여 총 펀딩을 4000만 달러로 늘렸습니다. 회사의 AI 엔진인 Rai는 기존의 자산 관리 상담사보다 10-20배 빠르게 자산 관리 상담을 제공하며, 회원들에게 75%-90%의 수수료 절감 효과를 제공합니다. 2021년에 창립 이후, Range는 1,000명 이상의 고액 자산가 회원을 유치하였으며 거의 30억 달러의 자산을 관리하고 있습니다. 이 플랫폼은 매달 20%의 회원 증가율을 경험하고 있으며, 투명한 고정 수수료 모델로 운영되며 투자 서비스, 세금 계획, 상속 계획, 퇴직 계획 및 보험 필요를 통합하고 있습니다.
Range, une plateforme WealthTech basée sur l'intelligence artificielle, a sécurisé 28 millions de dollars dans un financement de Série B dirigé par Cathay Innovation, portant le financement total à 40 millions de dollars. Le moteur d'IA de l'entreprise, Rai, fournit des conseils en gestion de patrimoine 10 à 20 fois plus rapidement, tout en faisant économiser aux membres 75 à 90% sur les frais par rapport aux conseillers traditionnels. Depuis sa création en 2021, Range a attiré plus de 1.000 membres fortunés et gère près de 3 milliards de dollars d'actifs. La plateforme connaît une croissance mensuelle des membres de 20% et fonctionne selon un modèle de frais fixes transparent, intégrant des services d'investissement, la planification fiscale, la planification successorale, la planification de la retraite et les besoins en assurance.
Range, eine AI-basierte WealthTech-Plattform, hat 28 Millionen US-Dollar in einer Series-B-Finanzierung, geleitet von Cathay Innovation, gesichert, wodurch die Gesamtfinanzierung auf 40 Millionen US-Dollar gestiegen ist. Die KI-Engine des Unternehmens, Rai, bietet Vermögensverwaltungsberatung 10 bis 20 Mal schneller und spart den Mitgliedern 75-90% an Gebühren im Vergleich zu traditionellen Beratern. Seit seiner Gründung im Jahr 2021 hat Range über 1.000 vermögende Mitglieder angezogen und verwaltet fast 3 Milliarden US-Dollar an Vermögenswerten. Die Plattform verzeichnet ein monatliches Mitgliederwachstum von 20% und arbeitet mit einem transparenten Pauschalgebührenmodell, das Investitionsdienste, Steuerplanung, Nachlassplanung, Altersvorsorgeplanung und Versicherungsbedarf integriert.
- Secured $28M Series B funding, bringing total funding to $40M
- Managing nearly $3B in assets from 1,000+ high-net-worth members
- 20% month-over-month membership growth
- AI technology delivers 10-20x faster service with 75-90% cost savings
- Flat-fee pricing model versus traditional percentage-based fees
- None.
Insights
Range's
The flat-fee pricing model, contrasting with traditional percentage-based fees, could be particularly disruptive to incumbent wealth management firms. The total funding of
The new face of wealth management creates ai powered software to drive optimization; membership is increasing
Traditional financial advisors have offered the same types of wealth management services to consumers for decades. Range is overhauling the sector with a new AI engine they created named: Rai. As a result, they are able to provide superior advice 10-20x faster and save their members 75-90 percent more in fees than traditional wealth advisors.
The wealth management industry is witnessing a seismic shift, and Range is at the forefront of this transformation," said Fahad Hassan, co-founder and CEO of Range. "Within 10 years, 95 percent 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.
In less than two years, Range attracted more than 1,000 high-net-worth members and now advises them on nearly
Co-founded by Fahad Hassan and David Cusatis in 2021, Range is an all-in-one wealth management solution. 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 uses a transparent, flat-fee pricing model rather than taking a percentage of a client's wealth.
"By and large, the wealth management industry hasn't changed in more than 75 years," says Simon Wu, Partner of Cathay Innovation, who also joins Range's board of directors. "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."
About Range
Range is upending wealth management through its AI-powered platform that puts sophisticated financial planning within everyone's reach. Combining proprietary artificial intelligence technology with world-class, licensed financial advisors, Range delivers personalized guidance, comprehensive financial tools, and 24/7 support—all with no minimum requirements. The company's rapid growth and innovative approach are transforming how Americans manage and grow their wealth. For more information, visit www.range.com.
About Cathay Innovation
Cathay Innovation is a multistage venture capital firm, affiliated to Cathay Capital, investing in founders building transformative businesses across
Founded in
To learn more, visit us at www.cathayinnovation.com or follow us on LinkedIn or Twitter @cathayinnov
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SOURCE Range
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