# Powder Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/powder-finance

- Industry: Software
- Headquarters: Los Altos, US
- Website: www.powderfi.com
- Total disclosed funding: $5M
- Latest round: Seed (Jul 23, 2024)
- Investors on record: 7

## About

Based in California, US, and founded in 2023 by CEO Kanishk Parashar, CTO Soo-Yung Cho, Head of Sales and Operations Dominic Tully, Principal Engineer Jeffrey Magder, and CIO David Goerz, Powder Finance, Inc. operates as a financial technology-based-company providing an artificial intelligence-based online platform in which users can streamline and automate their wealth management activities like financial analysis and sales campaigns. In July 2024, Powder Finance, Inc. raised USD 5 million in seed funding from new investors FundersClub, General Catalyst Partners, Litquidity, Script Capital, Y Combinator, and returning investor Elefund. Individuals and other unspecified investors also participated in the round.

Powder Finance, Inc. developed a platform based on artificial intelligence that allows users to collect prospect data from brokerage statements to K1s and supports clients with direct portfolio data updates and customized securities classification. The company offers analysis and support services for prospective clients' target allocations, risk identification, implementation of plans, and capital market data through its dashboard system. In addition, the firm’s platform supports clients by converting the users into their clients through integrated data support and conversion in the wealth management platform. It specializes in transforming complex financial data into actionable insights with informed analysis and task management for clients.

The company generates revenue on a subscription-based model and charges USD 80 a year for a starter package. The firm charges USD 160 a year for a professional package.

The company plans to utilize the July 2024 funding to embed generative artificial intelligence agents into a broad range of workflows across the wealth management ecosystem.

## Funding rounds

- Seed, Jul 23, 2024, $5M — General Catalyst Partners, Y Combinator, FundersClub, Elefund, Script Capital, Litquidity
- Seed, Mar 20, 2024 — Pioneer Fund

## Investors

- Pioneer Fund (https://capitalatlas.ai/funds/pioneer-fund) — Seed
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- FundersClub (https://capitalatlas.ai/funds/fundersclub) — Seed
- Elefund (https://capitalatlas.ai/funds/elefund) — Seed
- Script Capital (https://capitalatlas.ai/funds/script-capital) — Seed
- Litquidity (https://capitalatlas.ai/funds/litquidity) — Seed