“An enormous part of society has been failed by the monetary recommendation business, as a result of it is just capable of serve these which might be already rich,” commented Christian Owens, CEO and Co-founder of Clove. “As we speak, lower than one tenth of the UK inhabitants advantages from skilled monetary recommendation, and half of advisers have stopped servicing much less rich shoppers.”
Clove’s pre-Seed positions it among the many extra strongly backed early-stage gamers in Europe’s 2025 WealthTech panorama.
Comparable exercise this 12 months contains Belgium-based WARREN, which secured €3 million to advance its worker monetary wellness platform; UK-founded Wealthyhood, elevating €3.6 million to increase its funding and financial savings app; and Berlin-based NAO, which added over €1 million to scale its co-investment advisory platform.
In contrast with these smaller rounds, Clove’s elevate underscores a heightened degree of investor confidence in UK-led innovation geared toward closing the monetary recommendation hole.
“We consider that everybody deserves nice monetary recommendation,” commented Alex Loizou, Chief Product Officer and Co-founder, Clove. “With Clove, we’re in search of to interrupt the standard economics of economic recommendation by combining the experience of human advisers with the effectivity of AI. Our purpose is to make monetary planning extra accessible, reasonably priced, and efficient than ever earlier than, for everybody from younger professionals and aspiring entrepreneurs, to rising households and people beginning to consider retirement.”
Based in 2025 by confirmed tech founders Christian Owens (UK funds unicorn Paddle; $300 million raised, valued at $1.4 billion) and Alex Loizou (e-commerce market Trouva, acquired by Made.com), Clove is on a mission to shut the monetary recommendation hole, which impacts lots of of thousands and thousands of individuals globally and might each prohibit financial progress and result in worse monetary outcomes for people.
The FCA estimates that those who obtain monetary recommendation can see a rise in wealth of as much as 10% within the years following monetary recommendation, relative to people who don’t obtain monetary recommendation. It has launched regulatory modifications to assist scale back the recommendation hole and help progress by enabling elevated funding and innovation.
Talking about this challenge within the UK, Chancellor of the Exchequer, Rachel Reeves, mentioned: “Too many individuals are lacking out on the help they should construct a safer monetary future for themselves and their households.”
Within the UK alone, 13 million mass‑prosperous people maintain £3.8 trillion in investable belongings. This contains greater than 3.7 million UK customers who’re each open to receiving skilled monetary recommendation and have greater than £50,000 obtainable to speculate. The FCA estimates that there are 7 million adults within the UK with £10,000+ in money financial savings who could also be lacking out on the advantages of investing all through their lives.
“This isn’t an summary downside,” added Owens. “In case you’re not taking advantage of your cash then life milestones reminiscent of shopping for a house, beginning a household, establishing a enterprise or retiring early will really feel extra out of attain than they have to be.”
“There’s an pressing must make monetary experience accessible to everybody,” mentioned Matt Robinson, Accomplice at Accel. “The appropriate recommendation might assist individuals to purchase a house sooner, make investments with confidence, and retire on their very own phrases. Christian and Alex mix a confirmed monitor file of constructing and scaling companies, with a deep ardour for fixing this downside. We’re thrilled to again their imaginative and prescient as they search to create a brand new form of monetary establishment and try to empower individuals to take management of their monetary future.”
