Arca Raises $64 Million After Surpassing $1 Billion in Client Assets
Updated
Updated · Wealth Management · Jun 25
Arca Raises $64 Million After Surpassing $1 Billion in Client Assets
2 articles · Updated · Wealth Management · Jun 25
Summary
$64 million in new funding brings Arca out of stealth, with a $15.5 million seed round led by Venrock and a $48.5 million Series A led by General Catalyst.
More than $1 billion in client assets and 28 employees give the AI-native wealth manager a base to expand its client roster, recruit advisors and build out its platform and brand.
Arca says its model pairs high-touch human advice with AI tools that automate repetitive administrative work rather than replace advisors.
A May acquisition of Sandbox Financial Partners, an RIA with about $682 million in assets, helped push Arca past the $1 billion mark as it builds its custody network with Schwab, Fidelity and Altruist.