The world of finance is notoriously slow to adopt radical change, but a fresh $15 million Series A funding round for Streetbeat suggests that AI wealth management is no longer a futuristic concept, but a rapidly scaling reality. The Palo Alto-based company, now with $25 million in total funding, is pushing agentic AI into the hands of both seasoned financial professionals and everyday investors, promising a seismic shift in how assets are managed and grown.
Streetbeat's core offering revolves around AI agents designed to automate everything from investing strategies to risk management and portfolio analysis. For wealth managers and financial institutions, its StreetbeatPRO platform is already making waves. The company claims advisors using PRO have quintupled their client capacity and boosted Assets Under Management (AUM) by up to 15% annually. With 4,000 advisors across 15 countries, including recent expansions into Germany, Italy, and South Korea, and a major European brokerage bank on board, the platform is clearly tapping into a significant demand for efficiency in a high-stakes industry.
The AI Edge for Everyone
But Streetbeat isn't just for the pros. The company also offers a retail product for U.S. investors, allowing them to converse with an AI advisor to craft diversified portfolios based on personal risk tolerance and market conditions. This is where Streetbeat makes its boldest claims: "Typically, 80% of manual trading results in a loss, while AI-powered trading generates returns," states the company, citing an average annual return of +8% for its AI-created portfolios compared to manual trading. While such figures warrant scrutiny, they underscore the disruptive potential Streetbeat sees in democratizing sophisticated investment strategies.
Damián Scavo, Streetbeat's CEO, emphasizes the mission to make "the best financial intelligence available to everyone." The company's proprietary AI, which has been in production for three years, draws on over 170 data sets and boasts a 94.78% accuracy rate on internal bench tests simulating complex financial interactions. This new capital, led by CDP Venture Capital's AI Fund, will fuel further technical team expansion and accelerate international growth, particularly as Streetbeat plans its retail AI advisor launch in Europe by 2026. As AI continues its march into every sector, Streetbeat is positioning itself at the vanguard of a new era of AI wealth management, promising to redefine financial accessibility and performance.
