Finster AI, an artificial intelligence (AI)-native platform for investment banks and asset managers, has announced securing $15m in combined Series A and Seed funding.
The Series A round was led by FinTech Collective, while the Seed round was led by Peak XV, with ongoing participation from Hoxton Ventures.
This funding will support Finster’s expansion in New York, accelerate team development, and enhance data and technology partnerships across the financial ecosystem.
Financial institutions face constraints that generic AI solutions cannot always address. Handling confidential information and Material Nonpublic Information (MNPI) requires strict controls and robust governance. Front-office workers demand zero tolerance for hallucinations that could introduce risks in client communication, investment documents, and market research. Accurate, real-time data is essential, necessitating high-quality, permissioned data, stated Finster AI.
Sid Jayakumar, Finster AI founder and CEO, spent seven years at Google DeepMind before founding Finster AI in 2023.
With an understanding of information flow and user behaviour in finance, Finster is claimed to be personalised for every role, user, and workflow. Whether drafting investment memos, conducting research, or assembling data and client materials, Finster provides an experience powered by AI.
Jayakumar stated, “Finance has unique demands and AI is a critical tool for staying ahead of the market. We designed Finster as a secure, scalable, and verifiable platform that doesn’t just support workflows; it anticipates them. Our mission is to help financial professionals move from reactive tasks to proactive, insight-driven decision-making at industry scale.”
Finster AI has partnered with several leading financial institutions, including tier one global investment banks and asset managers.
Jayakumar added, “Investment banks and asset managers are under increasing pressure to deliver deeper insights at greater speed. There is no easy button for transformation. It takes true partnership, a deep understanding of workflows, and shared ambition. That’s why we’re privileged to already collaborate with some of the leading firms out there.”
Finster has added seasoned leaders with experience at global financial and technology firms, including alumni of Revolut, Morgan Stanley, Rothschild & Co, and Visible Alpha.
Chris Andrews has joined as chief operating officer, based in New York and brings nearly two decades of experience at Morgan Stanley.
Andrews said, “Finster’s thoughtful design is defined by two strengths: a platform purpose-built for scale and trust, and a team with proven excellence across AI and finance.”
Veeral Manek, joining from Revolut, will take a product role. At Revolut, Manek was general manager of the Wealth & Trading business.
Manek commented, “For some time, I have been considering how AI will impact the future of work. I believe Sid and the team are building the most thoughtful solution to solve the unique complexities of the financial industry.”
