Range, which uses AI to offer flat-fee financial planning services to mass affluent households, raised a $60M Series C led by Scale Venture Partners
Range, which uses AI to offer flat-fee financial planning services to mass affluent households, has raised $60 million in Series C funding, CEO Fahad Hassan tells Axios Pro.
Context & Ripple Effects
Range’s financing extends a cluster of AI-enabled financial-services companies pairing automation with a different service model. In adjacent insurance, WithCoverage has pursued an AI-based flat-fee alternative to traditional brokerage, while Range applies a flat-fee approach to household financial planning.
Subsequent coverage of Farther’s AI-enabled platform for financial advisors suggests that investment is reaching both consumer-facing planning models and the advisor tools that support incumbent distribution.
First-order effects
- Range gains $60 million of new Series C capital, led by Scale Venture Partners, to support its AI-driven financial-planning offering for mass-affluent households.
- The round gives Range additional backing as it competes on a flat-fee service model rather than relying solely on traditional advisor economics.
Second-order effects
- Advisor platforms and wealth-management providers face sharper pressure to demonstrate how AI improves service delivery or cost structures; Farther’s later $150 million round underscores that capital is also flowing to AI tooling for advisors.
- Flat-fee positioning may make pricing and service scope more visible competitive variables for financial-planning providers serving the same customer segment.
Third-order effects
- If funding continues across both direct planning services and advisor platforms, wealth management could split more clearly between technology-enabled scaled advice and higher-touch advisory offerings.
- The recurring AI-plus-flat-fee model across financial services may test whether automation can support lower-friction distribution without reducing the need for trusted human advice in complex cases.
The trend: AI is being funded not only as back-office software in financial services, but as a way to redesign how advice and brokerage-like services are packaged and priced.