AI Startup Rogo Expands into Wealth Management with New Funding
Rogo Technologies, an AI startup already used by major investment banks like JPMorgan Chase and Bank of America, is expanding its focus to wealth management. The company recently secured $30 million in strategic investments from institutions including Citi, Barclays, BNP Paribas, MUFG, Société Générale, as well as co-founders of Moelis & Company and Sixth Street’s Josh Easterly. Rogo aims to automate tasks for wealth advisers similar to those it has already streamlined for investment bankers. These include portfolio reviews and client relationship analyses that enable more personalized advice. The firm is still in the early stages of this expansion but has previously raised $160 million at a $2 billion valuation earlier this year. The move aligns with broader trends on Wall Street, where banks like Citi are also exploring AI to enhance productivity and client services without necessarily reducing staff sizes.
Tickers: $BABA $BAC $BARC $C $GOOGL $JPM $MUFG $TFC $WFC
Topics: AI funding round startup expansion wealth management