Clove, a UK wealth management startup co-founded by former fintech unicorn Paddle’s CEO Christian Owens, has recently emerged from stealth mode with $14 million in pre-seed funding.
The funding round was led by Accel, supported by Kindred Capital, Air Street Capital, and notable angel investors including Cleo’s Barney Hussey-Yeo, Erez Mathan from GoCardless, and Gideon Valkin, formerly of Monzo and ClearScore.
The Financial Conduct Authority has indicated that individuals receiving financial advice could be up to 10% better off over time compared to those who do not seek such guidance. Clove, co-founded by Owens and Alex Loizou, aims to offer this advice through a combination of human expertise and AI technology.
The funding will facilitate the expansion of their team in preparation for a full launch in 2026, pending FCA authorization. Loizou states, “With Clove, we aim to redefine the economics of financial advice by merging the skills of human advisers with the effectiveness of AI. Our objective is to make financial planning more accessible, affordable, and effective for everyone—from young professionals and aspiring entrepreneurs to growing families and those starting to consider retirement.”