London-based startup Clove launches out of stealth with €12 million to make wealth management widely available

London-based startup Clove has emerged from stealth mode with a €12 million pre-Seed funding round, aiming to make wealth management accessible to a wider audience. The company, founded in 2025, plans to use the investment to build its team and platform with a full launch expected in 2026. This development highlights the growing focus on fintech solutions designed to address the financial advice gap across Europe. The funding round was led by Accel, with contributions from Kindred Capital, Air Street Capital, and several angel investors. Clove's founders, Christian Owens and Alex Loizou, are experienced tech entrepreneurs with backgrounds in successful ventures like Paddle and Trouva. The startup intends to combine human advisors with AI to make financial planning more accessible, affordable, and effective, targeting a broad range of individuals. The financial advice industry has traditionally served a limited section of society, and Clove is looking to disrupt this. In the UK, less than a tenth of the population benefits from professional financial advice, and half of financial advisors have stopped servicing less wealthy clients. Clove's focus on technology and AI solutions may allow it to reach more people and democratize access to wealth management services. This investment places Clove among the better-funded early-stage players in Europe's WealthTech landscape, with the UK leading the charge. It also comes as financial regulators like the FCA introduce changes to support innovation in the sector. With AI playing an increasingly important role in fintech, Clove's approach could offer valuable insights for other financial services firms.