PlannerPal, an AI-powered workflow platform built for financial advice and wealth management businesses, has secured $6m (£4.3m) to expand its client intelligence technology across the UK advice market.

Mercia Ventures led the investment. Ada Ventures, which already backs the company and headed its pre-seed raise in February 2024, returned for this round. A number of strategic FinTech backers and angel investors also joined.

The company will put the new capital towards a fast scale-up of its engineering and product functions. It will also use the money to help customers deploy the platform and to speed up work on its client intelligence features.

The business recently entered the UK mortgage sector, signing Charles Cameron, which ranks among the largest independent mortgage brokers in the country. Mortgage providers share many of the efficiency and compliance pressures seen in wealth management. Their client details are often scattered across calls, paperwork and separate platforms, and they face mounting demands to prove consistent and suitable advice across large client volumes.

PlannerPal first set out to cut the paperwork tied to giving financial advice. Its tool records client meetings, generates documentation and updates the platforms advisers rely on daily. Firms now also use it to link data spread across client conversations, files and core systems, which improves the quality of client records so they can be used more widely within the business.

PlannerPal CEO and co-founder Mark Whitcroft said, “Financial advice firms are sitting on an extraordinary amount of valuable client information, but much of it is fragmented across conversations, documents and different systems.

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