Aventur AI

Plugging a £2.6 Trillion gap through AI-powered personal finance

Author

Quick Pitch
December 10, 2024

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Categorised as EIS/SEIS eligible

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Today’s feature of Quick Pitch is an early-stage start up building AI to make lower asset markets finally profitable for advisers while combatting the UK’s financial literacy gap.

The Market

  • Post Consumer Duty, clients with £200k or less are unprofitable for advisers (increasing from £50k) meaning there is now a £2.6 trillion gap in unserved funds.

This week's business solves two major problems: 

  • An estimated 13 million UK adults are holding a combined £430bn in cash deposits that could be invested but there is a financial literacy gap.

  • Recently introduced Consumer Duty regulation from the FCA has made providing advice to low-asset clients harder leading to 1.5m losing access.

One Liner

Aventur AI is an AI-powered personal finance and guidance for the mass affluent, right from their smartphone.

Quickfire

  • Headquarters: London

  • Employee count: 14

  • Investors: 23 angel investors

  • Funding amount: £1m in 2023. Raising a further £500k

  • Business model: B2B2C (platform, fund and IM fees on avg >1% lower than traditional adviser fees)

  • Traction metrics:

    • Aventur (tech-first FCA regulated Financial Planning business) is already doing £100K MRR with its own book of clients.

    • Actively engaged with 18 institutions to partner with Aventur AI’s tech (estimated £2bn+ AUM) including:

      • FTSE250 Investment Manager

      • £8bn National IFA

      • £5bn Investment Platform

Due Diligence

APPEALS

  • Existing tech infrastructure: Having launched Aventur as a tech first Financial Planning business in 2021, the AI build has a solid platform.

  • FCA consumer duty: Aventur AI opens up billions in market opportunity for financial advisers to give advice to lower asset clients.

  • Gamification: With autonomous engagement to clients using AI, learning financial literacy in real world scenarios is another offering to individual clients.

POTENTIAL RISKS

  • More regulatory changes: Like Consumer Duty more changes could reduce the leverage Aventur AI has on advisers in the market.

  • Cash flow issues: Aventur AI’s multi-faceted AI Engine (e.g. Advanced Client Onboarding) requires a sophisticated tech infrastructure that is expensive to build.

  • Competitive tech race: Tech heavy competitors like Chip, MoneyBox, and Hargreaves Lansdown who may have millions more in funding could build the AI tech quicker.

Competition

Founders

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