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Marloo, an AI platform for financial advisors, raised a $10 million seed, CEO Hardy Michel tells Axios exclusively.

The big picture: The wealth industry faces an advisor shortfall and shifting client demographics.

Follow the money: The round was led by Blackbird Ventures, who doubled down on their pre-seed investment six months ago, bringing Marloo's total funding raised to $12.7 million.

How it works: Marloo uses AI to handle administrative tasks, like capturing meetings, generating notes and compliance docs.

"It's about offering new models of engaging with clients, with less work and more personalization," co-founder Shakeel Lala says. "The real value that's unlocked is AI doing work that wasn't done before in firms."

Between the lines: Marloo builds one core system and adapts it for each market by layering in local regulations, firm rules, and advisor preferences, rather than rebuilding the product.

"We can spin up in any country in the world and be able to feel local," Michel says. "Adoption is the battleground with AI, it's where most companies are falling behind."

What's next: The London-based company plans to expand into the U.S. after early traction in the U.K. and Australia.

Exclusive: AI startup Marloo raises $10M for financial advisors

The wealth industry is facing an advisor shortfall.

Illustration of a robotic hand holding a glowing dollar sign.

Marloo, an AI platform for financial advisors, raised a $10 million seed, CEO Hardy Michel tells Axios exclusively.The big picture: The wealth industry faces an <a class="gtmContentClick" data-vars-link-text="advisor shortfall" data-vars-click-url="https://www.mckinsey.com/industries/financial-services/our-insights/us-wealth-management-in-2035-a-transformative-decade-begins" data-vars-content-id="14938f36-42ef-47c9-8f3a-5f339f13e8e3" data-vars-headline="Exclusive: AI startup Marloo raises $10M for financial advisors" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.mckinsey.com/industries/financial-services/our-insights/us-wealth-management-in-2035-a-transformative-decade-begins" target="_blank">advisor shortfall</a> and shifting client demographics.

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Exclusive: AI startup Marloo raises $10M for financial advisors

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