Clove Raises $14 Million Pre-Seed Round to Make Money Make Sense

Clove, a wealth-tech platform, led by Christian Owens and Alex Loizou, has secured £10m ($14m) in pre-seed funding, led by Accel with participation from Kindred, Air Street, and a group of incredible angel investors.

Despite advances in consumer technology, financial guidance has barely evolved. While products exist to move money or invest, few help answer critical questions about timing, trade-offs, and future planning. Moreover, the financial advice industry largely serves only those who are already wealthy.

Only 9% of people in the UK receive professional financial advice, and with half of advisers ceasing service to less wealthy clients, the gap is widening. The FCA estimates 7 million UK adults with £10,000+ in savings may be missing out on long-term investing benefits. This is not just a UK issue, it’s global. Clove believes financial advice should be accessible, affordable, and personal.

The financing enables focus on two priorities: building a better way to deliver financial advice and expanding the team. By combining human advisers with AI, high-quality, personalized guidance can be delivered at scale. AI reduces administrative burdens, allowing advisers to focus on helping clients make better decisions. The team will grow carefully, adding advisers, engineers, designers, and operators to reimagine how financial advice works. This effort is part of a long-term mission to create a new kind of financial institution, with advice as just the beginning.