When you open a brokerage account, you’re automatically paired with a financial advisor. Well, that’s how it works in Brazil, where Bruno Koba and Daniel Tulha grew up. When they came to the U.S., the pair were surprised to discover that advisors are typically available only to the wealthy, and that everyone else just sort of wings it—perhaps with the help of Claude or ChatGPT.
This situation is what led Koba and Tulha, a former Stripe engineer, to found Astor, a Y Combinator–backed startup that provides an advisory service that can connect to an investor’s portfolio, and provide recommendations by text or voice through an AI chatbot. On Thursday, Astor announced it has raised a $5 million seed round led by venture firm Monashees.
Astor offers guidance for general portfolio construction, but can also take a customer’s broader financial situation into account, including the need to manage credit card expenses or plan for a wedding. Koba says many investors want to be more active with their portfolio, but lack confidence.
“We see people asking all these questions to ChatGPT and Claude, but those services are not optimized,” he said, noting that Astor is built on a multi-agent architecture that draws on Anthropic models.
Astor is hardly the first, of course, to offer AI-powered financial services to ordinary investors. So-called robo-advisors have been around for a decade, and during the current AI era, platforms like Robinhood are building next-generation versions of these advisors that aim to be far more personal and versatile. Meanwhile, traditional financial advisory firms are partnering with Anthropic and others to provide well-heeled clients with AI insights delivered with a human touch.
Despite the crowded field, Koba believes Astor can distinguish itself with its text and voice advice, and because its AI models are optimized for personal finance. The startup, which charges $15 a month and $40 for an unlimited Pro version, says it currently has around 4,000 customers.
One challenge that Astor and others face is that the business of financial advice is highly regulated, and requires companies to look out for the best interests of their customers. To this end, Koba says he obtained his advisor license, known as a Series 65, and that any advice Astor provides to clients is thoroughly fact-checked by the firm’s own agents.
In addition to Monashees, Astor received financial backing from Y Combinator, Goodwater, and executives from Stripe and OpenAI.
“Most people don’t need more investment products, they need someone in their corner. Astor gives people the knowledge and guidance to actually take control of their financial future,” said Monashees partner Fabiola Quinzaños in a statement.