Finster AI, an artificial intelligence (AI) platform designed for investment banks and asset managers, has raised a total of US$15 million (S$20.3 million) in combined Series A and Seed funding to expand its operations and accelerate product development.

The Series A round was led by FinTech Collective, while the Seed round was backed by Peak XV Partners, with continued participation from Hoxton Ventures. The funds will be used to grow Finster’s New York presence, strengthen its data and technology partnerships, and expand its global team.

AI Built for Financial Workflows

Founded in 2023 by former Google DeepMind researcher Sid Jayakumar, Finster AI positions itself as an AI-native platform built specifically for the complexities of financial institutions.

“Finance has unique demands and AI is a critical tool for staying ahead of the market,” said Jayakumar, Founder and Chief Executive Officer of Finster AI. “We designed Finster as a secure, scalable, and verifiable platform that doesn’t just support workflows; it anticipates them.”

Unlike generic AI tools, Finster’s platform is designed to operate within strict governance environments that handle confidential and material non-public information (MNPI). The system also prioritises accuracy and data provenance, addressing the financial sector’s low tolerance for hallucinations or unverified outputs.

The company says its tools help finance professionals draft investment memos, conduct market research, and assemble client materials, all within familiar interfaces. Finster’s approach reflects “how finance actually works”, Jayakumar added, allowing AI to augment human expertise rather than replace it.

Early Institutional Partnerships

Finster AI has already secured partnerships with several global investment banks and asset managers. Jayakumar said these collaborations are built on “deep understanding of workflows” and shared ambition to drive measurable returns on investment.

To support its growth, Finster has also strengthened its leadership team. Chris Andrews, formerly Global Chief Operating Officer of Research at Morgan Stanley, has joined as COO and will be based in New York. Andrews noted that Finster’s platform is “purpose-built for scale and trust,” adding that its team “creates a powerful foundation to help clients adopt AI with confidence.”

Veeral Manek, previously General Manager of Wealth and Trading at Revolut, has also joined Finster in a product leadership role.

Toby Triebel, Partner at FinTech Collective, said Finster’s combination of deep AI and financial services expertise positions it well to deliver “deeply integrated enterprise-grade AI for such a complex industry”.

Hussein Kanji, Founder and Partner at Hoxton Ventures, drew a parallel with the Bloomberg Terminal, describing Finster as being “at the forefront of a new transformation” in financial services.

With the new funding, Finster plans to continue expanding its institutional partnerships and refine its AI models to meet compliance and security requirements in banking and asset management.

The company is also expected to scale hiring across its engineering, data, and client success teams in both the United States and international markets.