New York-based wealth management start-up Arca has emerged from stealth with $64 million in seed and Series A funding.
California-headquartered venture capital firm Venrock led Arca’s seed round, which raised $15.5 million. Venrock returned for Arca’s $48.5 million Series A, which was led by General Catalyst, and supported by Index Ventures.
The brainchild of Rron Rexha, a former product lead at Plaid, Arca uses AI to complement wealth advisors and offer a proactive and personalised wealth management platform that addresses customers’ equity compensation and planning needs – spanning across different verticals including financial, retirement, estate, business exit, and tax.
Announcing the firm’s launch on LinkedIn, Rexha notes that Arca is “building agents from scratch across every part of the business, creating an evolving and compounding system that learns from and operates itself”.
Managing over $1 billion in assets under management, Arca’s board and advisors include Bill McNabb of Vanguard, Nick Beim at Venrock, Jason Wenk at Altruist, Morgan Housel, Peter Crawford of Charles Schwab, and Alex Tran and Nat Levy-Westhead at General Catalyst.