Multiply.ai

Multiply. ai delivers AI-driven technology solutions designed to enhance the efficiency of financial advisory services, integrating automation to improve client interactions and streamline advisory processes. Multiply. ai was founded in 2016 and is headquartered in London, UK.

The company specializes in providing AI technology solutions for financial advisory firms, automating routine processes and enhancing client service. The founders, Mike Curtis and Vivek Dipfa, have a background in technology and finance. In November 2017, Multiply. ai raised GBP 1.

75 million in a funding round led by Octopus Investments, with participation from Entrepreneur First and Portage Ventures, valuing the company at GBP 5. 77 million post-money. This was the only deal reported as of now. Multiply specializes in AI-driven technology solutions that enhance the efficiency and scalability of financial advisory services.

Their core product, the Multiply platform, seamlessly integrates with intelliflo IQ's AI and Advice Engine, automating advisory processes, analyzing data, and generating tailored recommendations. This technology improves client onboarding and streamlines advice delivery, allowing financial advisers to focus on building relationships with their clients. The client base primarily includes FCA-regulated financial advisory firms in the UK and across Europe, utilizing Multiply's platform to enhance offerings in savings, investments, and pensions. Multiply generates revenue through a subscription-based model, charging financial advisory firms for access to its platform and integrated services.

The revenue structure is based on partnerships that allow firms to optimize their advisory processes. Clients use the platform to receive personalized financial advice, which drives product usage and assets under management for advisers. Specific pricing details have not been disclosed, but revenue is correlated with the scale of usage and the extent of services utilized by each firm. Multiply.

ai plans to utilize the GBP 1. 75 million raised in the funding round in November 2017 to further develop its technology, potentially leading to new products and enhancements of existing services. The company intends to expand its reach into other markets across Europe, aiming for growth by the end of 2023. This funding will support initiatives to strengthen their platform’s capabilities and improve client offerings.