Astor, a robo-advisor startup that emerged from the Y Combinator accelerator program, has raised $5 million in seed funding to expand its subscription-based artificial intelligence investment guidance service. The company, which registered with the Securities and Exchange Commission in January, aims to provide automated voice and chat advice to retail investors who lack access to traditional financial advisors.
The funding round was led by Monashees, Goodwater Capital, Gilgamesh Ventures, and 468 Capital, among other investors. Co-founders Bruno Koba and Daniel Tulha, both Brazilian natives who relocated to the United States, bring experience from Robinhood and Stripe, where Tulha worked as a software engineer. Koba, the chief executive officer, noted that many acquaintances treat their brokerage accounts like gambling platforms, a gap the service aims to address.
Astor offers two subscription tiers: a premium plan at $39.99 per month for unlimited voice calls and chat messages with an AI advisor, and an entry-level tier at $14.99 monthly for portfolio insights and unlimited chat, with a 10-minute daily cap on AI voice interactions. Users link their brokerage accounts via Plaid, allowing the platform to analyze portfolios, financial goals, and market conditions to generate non-discretionary investment recommendations.
According to regulatory filings, Astor provides AI-generated advice on mutual funds, fixed income securities, equities, exchange-traded funds, and non-U.S. securities. The company reports serving thousands of users and overseeing more than $200 million in connected accounts, though its most recent Form ADV does not list any assets under management. The filing also discloses limitations of AI, warning that outputs may contain errors or inaccuracies due to data or model constraints.
The SEC filing states: “AI outputs may contain errors, inaccuracies, or incomplete analysis due to limitations in the underlying data or models. Market data and third-party information may be delayed, incorrect, or incomplete, which can affect the accuracy of results. AI systems may generate responses that appear authoritative but are subject to misinterpretation by clients if taken as investment advice.”
Astor positions itself as a solution for the millions of Americans who cannot afford traditional financial advice. The robo-advisor space includes competitors such as Anthony Pompliano’s ProCap Financial and RIA startups Range and Era. Range was recently recognized among the 10 fastest-growing firms by RIA Pulse data.
The broader wealth management industry continues to explore AI integration. For instance, Wells Fargo Launches AI-Enhanced Advisor Gateway, reflecting a trend toward technology-driven advisory tools. Meanwhile, a Morgan Stanley survey found that 63% of founders prioritize revenue growth amid AI and liquidity pressures, underscoring the demand for efficient solutions.
Astor’s model relies on subscription fees rather than assets under management, a departure from traditional robo-advisors. The company’s ability to scale while maintaining regulatory compliance will be critical as it competes for market share in a crowded fintech landscape.
