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BFD Expert Voices - Private Credit

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Streetbeat, which builds AI agents for wealth managers, raised $15 million in Series A funding, CEO Damián Scavo tells Axios exclusively.

Why it matters: Financial advisers are turning to AI agents to handle more clients without adding headcount.

Zoom in: CDP Venture Capital led the financing through its AI Fund, with participation from TTV Capital, P101, Monte Carlo Capital, 3Lines VC, Azimut, and Evolution VC.

The round brings the Palo Alto-based company's total funding to $25 million.

How it works: Streetbeat's pro offering enables automated investing, risk management, and portfolio analysis through off-the-shelf or customized AI agents.

Each agent can access internal systems like Salesforce, Aladdin, or Gmail to generate insights or draft client communications.

"We evolved into a platform that creates an agent for each query, and this agent has access to a virtual machine so they can download data, code, use tools, and use APIs," Scavo says.

Between the lines: The software learns new APIs automatically from documentation, he says, rather than requiring manual code to be written for deployment.

Once live, Streetbeat charges a flat SaaS fee that includes unlimited users, queries, and assets under management, Scavo says.

Behind the scenes: Scavo says Streetbeat's model aims to prevent hallucinations by sourcing data only from connected APIs and deterministic software rather than training data.

The company reports 94.78% accuracy on the 𝜏-bench test suite, which it says is about 30% higher than general-purpose agent baselines.

Flashback: Streetbeat initially launched with a consumer product to help retail investors improve their returns, but pivoted to sell StreetbeatPRO to financial advisers.

"Our mission is to make the best financial intelligence available to everyone," Scavo says. "We started with retail, but scaling through wealth managers lets us reach a billion people faster."

By the numbers: Streetbeat's platform is used by about 4,000 financial professionals across 15 countries, including FinecoBank, which Scavo says deployed the technology to its 3,000 advisers.

Exclusive: AI agent for advisers startup raises $15M

AI agents can handle more clients without adding headcount

Illustration of a robot head wearing a headset on the body of a human in a business suit. 

Streetbeat, which builds AI agents for wealth managers, raised $15 million in Series A funding, CEO Damián Scavo tells Axios exclusively.Why it matters: Financial advisers are turning to AI agents to handle more clients without adding headcount.

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Exclusive: AI agent for advisers startup raises $15M

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