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Finster AI, which builds tools for investment banks and asset managers, has raised $15 million since last December, CEO Sid Jayakumar tells Axios exclusively. 

Why it matters: AI that fits strict data controls can expedite research and deal prep.

Zoom in: FinTech Collective led the Series A and Peak XV led the seed round, with Hoxton Ventures participating in both.

The deals closed earlier this year and in December 2024, respectively, following a $1.75 million in October 2023.

How it works: London-based Finster's tool connects external sources like SEC filings and third-party market data with customers' internal knowledge hubs.

Its AI chat interface can be used to generate investment memos, company profiles, and peer tables with line-item citations and audit logs built for bank controls.

"We ingest an SEC filing, reconcile it across our knowledge graph, and cite the exact row and column so reviewers can see why the model chose that number," Jayakumar says.

Between the lines: Deployments run in a customer's single-tenant or virtual private cloud environment and are encrypted under bank controls.

Jayakumar says the company typically starts with 30 to 40 committed users to test and benchmark against agreed-upon KPIs before expanding to full teams.

Deployments can go from proof-of-concept to full installation in three to six months.

The big picture: Finance teams are adopting AI to stay competitive as deal volume grows, while maintaining auditability and compliance.

Initial deployments aim to boost output, not cut headcount, by helping teams screen more opportunities and focus on higher-value work.

"It's not a question of fewer analysts. It's about increasing productivity so you can cover more names," Jayakumar says. 

State of play: The company says it is working with a top-10 global investment bank and asset managers overseeing more than $1 trillion in AUM.

Recent hires include COO Chris Andrews, previously Morgan Stanley's global COO of research, and ex-Revolut wealth & trading exec Veeral Manek in product.

What's next: The company will launch in the U.S. with a New York office and expand its London hub.

Exclusive: Finster raises $15M to bring AI to investment banks

The company's platform links filings and internal data under bank controls.

Illustration of a robotic hand holding a glowing dollar sign.

Finster AI, which builds tools for investment banks and asset managers, has raised $15 million since last December, CEO Sid Jayakumar tells Axios exclusively. Why it matters: AI that fits strict data controls can expedite research and deal prep.

Exclusive: Finster raises $15M to bring AI to investment banks

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