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  • Investments
  • 09 November 2023
  • 2 min read
  • Words: Northzone

Our investment in Era: Powering personal wealth management through AI

We’re thrilled to announce our latest investment in Era, the pioneering wealth management platform set to transform the personal financial management landscape using AI. We led its $3.1m Seed round, with participation from Protagonist, Designer Fund, and a group of angel investors including industry leaders from Stripe, Netflix, Pipe, Google, and Plaid.

By leveraging generative AI, a vast moat of real-time economic data, automations added by professional advisors, and users’ existing financial accounts, Era proactively identifies patterns in individual circumstances and macroeconomic information. Era aims to bridge the financial knowledge gap for users of all income levels, and generates personalised responses ranging from debt management steps, to financial strategies, and advice from influencers they trust—empowering them to take direct and personalised action on their existing accounts.

If we hone in on Zoomers alone, 61% of Gen-Zs seek financial advice from social media, with 45% saying that they get financial advice specifically from TikTok. Era is meeting these users where they feel most comfortable, giving them an AI assistant that can make managing their money and investments feel just like following their favourite advisors and influencers, using natural language in their own vocabulary. Era goes beyond monitoring user funds or answering questions, and equips users with the ability to take informed action from budgeting, to moving money, to understanding how and why the latest economic news impacts their own particular circumstances.

Our partner Wendy Xiao adds, “We’re excited to partner with Lindsay and Alex and see through what Era is building in a space we’ve long desired to disrupt. Americans, especially Millennials and Gen-Z, are more stressed than ever about their personal finances. Era is responding to an urgent need to bring personalised wealth management to many, enabled by a step change in the consumer experience unlocked by AI.”

Founded in 2023, Alex Norcliffe (ex-Square and Stripe) and Lindsay Brady (ex-Stripe), together with their all-Stripe founding team, are making the product accessible through a freemium version, ensuring that financial management remains affordable as they scale its capabilities. 

We’re very excited to join Era in building a future where expert financial management is accessible to all – you can now sign up here for early access today!