A company led by Robinhood Markets Inc. veteran just raised seed funding for its wealth management service.
Uprise, founded by CEO Jessica Chen Riolfi and Chris Goodmacher, has created a service that automates financial planning for young professionals. The service is 90% automated, though the company says there are humans who review the plans to make sure nothing was overlooked.
The company, legally known as Ontrail Inc., was founded in 2020. Chen Riolfi previously served as the chief of staff to Robinhood's head of product.
In addition to Contrary Capital, Hustle Fund and On Deck, Uprise counts among its investors senior executives from Robinhood and Stripe Inc., as well as the co-founders of Social Finance Inc. (SoFi) and ZenPayroll Inc. (Gusto).
Here is more seed funding news from this past week:
Modular Inc., Los Altos, $30 million: Alphabet Inc.'s early stage venture unit GV, Greylock Partners, The Factory and SV Angel invested in this provider of artificial intelligence development software.
Finalis Inc., New York and San Francisco, $10.7 million: Animo Ventures, Chaac Ventures, Ulu Ventures, Tribe Capital and The Fund invested in this provider of business and deal management software for investment bankers and other financiers.
GetChange Corp. (dba Change), San Francisco, $5 million: Freestyle Capital and New Enterprise Associates invested in this provider of software that helps companies automate cryptocurrency donations to nonprofits and charities.
Ontrail Inc. (dba Uprise), San Francisco, $1.4 million: Contrary Capital invested in this startup that provides wealth management services aimed at Gen Z customers. Hustle Fund, On Deck and Dash Fund also invested.
