Arta Finance launches out of stealth with $90M backed by former Google Chief Eric Schmidt to replicate ‘digital family office’

For decades, some investments, financial opportunities, and alternative assets were only available to the ultra-wealthy. These ultra-rich employ teams of professionals who use sophisticated financial strategies and tap investment opportunities that the rest of us can only dream of. These teams are called Family Offices. Now, one fintech startup is on a mission to level the playing field and make high-quality financial opportunities accessible to everyone.

Enter Arta Finance, a fintech startup co-founded and led by Google veteran Caesar Sengupta with the goal of empowering more people to gain the financial superpowers that, until now, were the domain of ultra-high net worth individuals. Arta is not your ordinary startup. Unlike other startups we’ve covered in the past, Arta is led by eight former Google executives.

Today, Arta Finance has emerged out of stealth with $90 million in funding to become the family office experience for a wider audience through artificial intelligence. Backers include Sequoia Capital India, Ribbit Capital, Coatue, and more than 140 tech and finance luminaries, Betsy Cohen, former Google chief Eric Schmidt, and Ram Shriram.

Calling the operation a “digital family office,” Arta CEO Caesar Sengupta, who led Google’s payments initiatives until 2021, said the startup will offer AI-personalized portfolios and alternative investments to accredited investors in the United States, with the aim of eventually expanding to non-accredited investors on a global scale.

Arta also unveiled its platform today, starting with accredited investors in the United States. The startup unlocks the access, personalization, and connections that, until now, were available only to the ultra-wealthy through their family offices. Family offices typically employ teams of professionals who use sophisticated financial strategies and tap into exclusive investment opportunities.

Calling the operation a “digital family office,” Arta CEO Caesar Sengupta, who led Google’s payments initiatives until 2021, said the startup aims to bring these advantages to millions more people globally through technology.

“We believe that a high-powered financial strategy and a secure, happy future shouldn’t be the monopoly of the ultra-rich,” said Caesar Sengupta, CEO and Co-Founder of Arta Finance. “Everyone should have a chance to take charge of their financial life in the same way that wealthier and financially savvier people do. So we’re doing this the way we know best – by breaking down barriers to sophisticated finance with technology.”

Arta’s goal is to help each member take charge of their own financial future. It opens up access to alternative assets, unlocks liquidity through a line of credit for eligible members, and harnesses AI to enable intelligent investing in public markets. Members are also plugged into Arta’s ecosystem of financial and lifestyle professionals who can help them protect and enjoy their wealth. The company does this while getting rid of the administrative overheads, salesy conflicts of interest, clunky UIs, and eye-watering fees that often face people looking for financial advice.

“Arta is harnessing the power of technology to benefit those who have been seeking wealth management but have never – until now – found the right platform,” said Betsy Cohen, founder and former CEO of The Bancorp and chairman of FinTech Masala. “By making access easier, quicker, and more complete, Arta has responded to those customer needs. Driven by a first-class team with deep knowledge of tech, Arta is at the beginning of its exciting journey. I am eager to become a Member.”