Finny, a NYC-based provider of a fintech platform using Gen AI, raised $4.3M in Seed funding.
The round was led by Maple VC and HNVR, with participation from Crossbeam Ventures, Liquid 2, Y Combinator, Morningstar CEO Kunal Kapoor, Gusto CPO Tomer London and Deel COO Dan Westgarth.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Eden Ovadia, Finny leverages generative AI to source publicly available data that indicate whether someone might be in the market for a financial advisor. Its proprietary algorithms then create a master profile for prospective clients, and its AI agent gets to work doing hyper-targeted and personalized outreach on the advisor’s behalf. The whole process can be divided in three steps:
- Prospect identification: once an advisor onboards, it identifies prospects within their target niche, aggregating thousands of data points per lead. These include money-in-motion life events that often serve as triggers for needing a financial advisor: home sales and purchases, marriages, divorces, birth of a child, recent capital raises or business sales.
- Prospect prioritization: it prioritizes prospects based on their predicted likelihood of converting, creating an “F-Score” that is unique to that advisor and prospect pair. It’s not dissimilar to a compatibility score in a dating app and continuously improves and becomes more accurate the more the advisor uses Finny.
- Prospect outreach and engagement: advisors have the option to have outreach completely taken off their plate. Finny selects the channel for better prospects, handles follow-ups and schedules meetings using AI that continuously learns optimal strategies and language.
