Grasp, a Swedish startup using AI for financial advisory, just raised $1.9 million in funding using this 11-slide pitch deck
- Swedish startup Grasp has raised $1.9 million to automate financial advisory workflows with AI.
- Grasp, founded by ex-McKinsey consultants, sells its AI assistant in 15 countries.
- The funding comes from Yanno Capital and H&M Group chairman Karl-Johan Persson.
Grasp, a Swedish startup that makes AI assistants to help consultants and investment bankers reduce their workload, has raised $1.9 million.
Founded in 2020 by former McKinsey consultants, Grasp aims to help users automate manual research functions. The automation should provide greater insight into key queries, such as potential sectors to examine for acquisitions or finding buyers for companies.
"A lot of workflow at top consultancy firms and banks is repetitive and manual despite these sectors being a massive, $1.4 trillion industry," Grasp CEO Richard Karlsson told Business Insider.
"Humans could analyze and examine thousands of companies, but our edge is using AI to provide millions of data points not just to save time but also to provide higher-quality insights," he said.
Grasp sells its product as an annual SaaS offering to customers in 15 countries. The company is a team of five but plans to use its new funding to grow its headcount, specifically in engineering, as it builds out its AI models.
The $1.9 million fundraise comes from Yanno Capital and Philian Invest, a fund managed and owned by H&M Group chairman Karl-Johan Persson.
Check out Grasp's 11-slide pitch deck below: