Powder, a Los Altos, CA-based fintech startup providing AI agents for precise document analysis, raised $5m in seed funding.
Backers included YCombinator, General Catalyst, Funder’s Club, Elefund, Litquidity Ventures and Script Capital, as well as Jon Xu, and Bryant Chou.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Kanishk Parashar, Powder creates AI Agents for precise document analysis to rapidly build proposals, aggregate external assets, and understand estates and automatically organize portfolios by account type, number, entity, tax status, and asset classification.
The company currently serves 20 mid-sized RIA firms, ranging from $1 billion to $100 billion in assets under management.
Clients include Catalytic Wealth, EPIQ Capital and IEQ Capital, among others.
FinSMEs
30/07/2024