Y Combinator veterans raise $15 million to build an AI money manager that thinks like a wealthy family office (www.businessinsider.com)

Dillon Erb and Daniel Kobran, Y Combinator veterans and cofounders of Autonomous Technologies Group (ATG), have successfully raised $15 million to develop an AI-powered wealth management app called Autonomous. This initiative aims to provide users with personalized investment strategies reminiscent of those employed by ultra-wealthy families, rather than the generic advice often found in traditional financial services or robo-advisors. The app will leverage real-time market data and individual financial contexts to proactively manage user portfolios, allowing for tax-optimized investment strategies and risk adjustments. The significance of this development lies in its potential to democratize access to sophisticated financial planning, traditionally reserved for wealthy individuals. By offering a free-to-use app for early adopters, ATG intends to disrupt the financial advisory landscape, which has faced criticism for high fees and a lack of personalized service. With future plans to standardize complex financial services such as angel investing and estate planning, Autonomous aims to transform the way individuals approach their financial health, making the expertise of a family office broadly accessible.