AI WealthTech Platform Range Secures $28 Million in Series B Funding

AI-Powered Wealth Management Platform Secures Major Funding

Range, an innovative AI WealthTech platform, has successfully raised $28 million in a Series B funding round, bringing its total funding to $40 million. The investment was led by Cathay Innovation, with participation from Gradient Ventures and other investors 1

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Revolutionizing Wealth Management with AI

At the heart of Range's disruptive approach is its proprietary AI engine, Rai. This advanced technology enables the company to provide wealth management advice 10-20 times faster than traditional methods while saving clients 75-90 percent in fees 1

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. Range's platform offers a comprehensive suite of services, including investment management, tax planning, estate planning, retirement planning, and insurance solutions 2

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Rapid Growth and Market Impact

Since its founding in 2021 by Fahad Hassan and David Cusatis, Range has experienced remarkable growth. In less than two years, the company has:

• Attracted over 1,000 high-net-worth members
• Begun advising on nearly $3 billion in assets
• Achieved a monthly membership growth rate of 20% 2

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Democratizing Access to Sophisticated Financial Services

Range's mission extends beyond providing advanced wealth management tools. According to CEO Fahad Hassan, "We're fundamentally democratizing access to sophisticated wealth management for all Americans" 1

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. The company employs a transparent, flat-fee pricing model, diverging from the traditional percentage-based fee structure common in the industry 1

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Strategic Expansion and Industry Transformation

The new funding will fuel Range's ambitious plans for expansion, including:

• Accelerating product development
• Scaling engineering teams
• Enhancing the AI-powered platform 1

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Simon Wu, Partner at Cathay Innovation and new board member of Range, highlighted the company's potential to transform a stagnant industry: "By and large, the wealth management industry hasn't changed in more than 75 years. Range is bringing much-needed innovation to an outmoded industry" 2

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Leadership and Technology Advancements

As part of its growth strategy, Range has appointed Chris Davidson, formerly of House Call Pro, as its new CTO 2

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. This move underscores the company's commitment to technological innovation and its vision of becoming the trusted platform for 95% of the population within the next decade 1

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Range's rapid ascent in the WealthTech sector signals a significant shift in how financial services are delivered and consumed. By leveraging AI to provide faster, more cost-effective, and comprehensive wealth management solutions, Range is positioning itself at the forefront of a new era in personal finance.