Vise raises $45 million in funding with Sequoia at the helm

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Date: 29.12.2020

Vise, a company founded by two high school graduates, raises $45 million in funding with Sequoia at the helm

So-called robo-advisers may be all the rage, but Sequoia Capital is betting that humans will still hold a prominent place in helping people make investment decisions.

The Vise team says that by using A.I. and data from financial providers such as Bloomberg, it can help create tailored portfolios for clients of investment advisers who, for example, specifically seek a portfolio that is environmentally friendly or one that is over-indexed on female CEOs. Then the human adviser can help personalize it even further.

“The thesis is that we believe humans are the future of advisories, and we believe that A.I. should help them,” said Ravi Gupta, the partner at Sequoia who led this round.

Vise gets its revenue from taking a 0.5% fee on assets that run through its platform. That raises the question: Doesn’t that model put Vise indirectly in competition with robo-advisers or stock-picking apps like Sequoia portfolio company Robinhood that are also seeking to get the same investment dollars in the end?

– fortune.com

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