Former employees of Revolut have launched Haido, an AI-powered wealth management platform based in London. The startup has raised US$5 million in new funding. Haido focuses on automated investment and wealth management services for retail investors.
Funding and launch
The fresh capital will help Haido strengthen its technical team. The startup also plans to continue development of its analytical tools. The company made the announcement as it emerged from stealth mode.
Revolut roots
The founders are former Revolut employees. They gained experience in scaling financial services technology across multiple European markets. Haido is based in London, a major fintech hub.
What Haido builds
Haido uses AI algorithms to analyze market data in real time. The platform provides tools for risk analysis and market forecasting. It also plans to add automated portfolio management services.
Haido enters a competitive wealthtech market in Europe. Regulators may adapt their rules as AI adoption grows in wealth management. Some investors and sector experts have responded positively to the launch.