A group of former Googlers has raised $90 million for a startup promising to bring the benefits of family offices to the masses.
Sequoia Capital India, Ribbit, Coatue and over 140 angel investors, including former Google CEO Eric Schmidt joined the round for Arta, which is promising to use technology to unlock the "financial superpowers" of the super-wealthy.
Arta is led by Caesar Sengupta, who spent years as a product lead at Google, in charge of things such as ChromOS and the Next Billion Users initiative.
Sengupta and several other Google executives left the tech giant last year to set up Arta, which was initially called Arbo Works.
Now out of stealth mode, the company says: "We created Arta to be your financial home - where you can aggregate all your assets, build your personal collection of investments and access expert services to shape your financial future. We got rid of the admin overheads, salesy calls, clunky UIs, and eye-watering fees.
"And we’ve harnessed AI to enable intelligent investing in public markets and opened access to alternative assets such as private equity, venture capital, and real estate funds. And we plug you into our ecosystem of financial and lifestyle professionals who can help you protect and enjoy your wealth.