Model ML Secures $75 Million Series A to Automate Investment Banking Workflows

Funding Round Details

Model ML, an artificial intelligence startup focused on automating investment banking workflows, has successfully raised $75 million in Series A funding 1

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. The round was led by investment bank FT Partners, with participation from Y Combinator Inc., QED Investors, 13Books Capital, Latitude, and LocalGlobe 2

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. This funding comes just six months after the company's $12 million seed round in February, which was led by Y Combinator and LocalGlobe 3

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Company Background and Technology

Founded approximately one year ago by CEO Chaz Englander and his brother Arnie, Model ML operates from offices in London, New York, and San Francisco 4

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. The startup has developed a platform designed to replace much of the grunt work traditionally performed by investment bankers, including creating pitch decks, investment memos, and due diligence reports 1

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The platform leverages AI agents based on OpenAI's reasoning models and utilizes the Agents SDK, an open-source tool released by OpenAI in March to coordinate AI agent workflows 2

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. Model ML's technology can retrieve data from various software-as-a-service applications including Salesforce and Google Workspace, combining internal records with external market intelligence when necessary.

Performance and Capabilities

According to the company, its software can complete tasks that typically take days in just a few hours 2

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. The platform generates client-ready Word, PowerPoint, and Excel outputs directly from trusted data sources, maintaining exact prior formats used by financial institutions 3

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A key feature of the platform is AutoCheck, a verification tool that can detect inconsistencies in financial information, formatting errors, and other issues that may compromise document quality. In an internal test comparing AutoCheck against two employees, the AI tool completed accuracy verification of a financial presentation in under three minutes, while the human staffers required over an hour. Additionally, AutoCheck identified more errors than the human reviewers 2

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Market Position and Client Base

Model ML serves some of the world's largest investment banks, asset managers, and consultancies, including two of the Big Four accounting firms 4

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. The company is guided by a world-class advisory board that includes former HSBC CEO Noel Quinn and UBS chair Axel Weber 3

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Steve McLaughlin, founder and CEO of FT Partners, emphasized that Model ML is "setting a new standard for how financial institutions leverage AI to achieve superior client results" 4

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. The funding round is reportedly among the largest FinTech Series A rounds on record.

Future Plans and Expansion

CEO Chaz Englander stated that the financing will enable the company to "accelerate global expansion and advance our AI capabilities across key financial hubs as we scale to meet rapidly growing enterprise demand" 2

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. The growth initiative will focus on expanding the company's go-to-market, AI engineering, and infrastructure teams to develop new workflow automation features for finance professionals.