London’s Saturn raises €12.9 million Series A to cut cost of financial advice by up to 90%

London-based AI technology company Saturn has secured a €12.9 million Series A funding round, signaling a significant push to revolutionize financial advice. The funding round, led by European VC firm Singular, aims to drastically reduce the cost of financial advice and expand access to wealth management services. This investment highlights the growing interest in AI-driven solutions within the European fintech sector, particularly those focused on improving efficiency and accessibility. Saturn's platform leverages AI to automate administrative and compliance tasks within the financial advice process. This automation is intended to reduce the average cost of serving a single client, which currently stands at approximately £2,000 per year. The company's founders, Amal Jolly, Michael Ettlinger, and Rohit Vaish, aim to make human-led financial advice accessible to a wider audience, with the goal of reaching one billion people. The implications of Saturn's technology extend to both financial advisors and their clients. By streamlining operations and reducing costs, Saturn's platform can help financial professionals serve more clients and potentially offer more affordable services. The broader impact includes addressing the "advice gap" by making financial planning more accessible to a larger segment of the population, thereby improving financial security. This funding round comes amid several other European fintech startups also securing significant investment. Finary in France, Flanks in Spain, Zango AI in the UK, and Resistant AI in Czechia are among the companies that have recently obtained funding to scale their AI-driven solutions. This trend suggests a growing European market for AI-powered financial services.