Despite decades of innovation in retail banking and investment, access to truly personalized support remains a privilege reserved for the wealthiest households. It was this observation that led two British entrepreneurs to found Clove at the beginning of 2025.
In the UK, only 9% of individuals receive professional financial advice. According to the Financial Conduct Authority (FCA), around seven million adults there hold more than £10,000 in savings without investing. A lack of support which weighs on their long-term assets, but also on the circulation of capital in the economy. The founders of Clove believe that the traditional model, based on a costly and limited human relationship, has reached its economic limits.
Their response involves a hybrid approach. Clove combines advisors and artificial intelligence to automate most of the administrative and compliance tasks that saturate professionals’ days. This reduction in “operational noise” should make it possible to redirect attention to the heart of the business: helping individuals make better wealth decisions, at the right time. The objective is to pave the way for personalized advice on a large scale, without renouncing the human dimension which underpins trust in this sector.
The company claims a pragmatic vision of the role of AI in finance. Algorithms do not replace judgment, but increase its scope tenfold. They make possible what was not possible with continuous, contextual, and economically sustainable monitoring for millions of clients previously excluded from the advice system.
Still in the start-up phase, Clove today brings together a team of six people including engineers, designers and advisors. It plans to recruit in the coming months to expand its development and experimentation capacity. The model, designed first for the British market, could ultimately find resonance in other countries where access to advice remains elitist.
Clove raised $14 million, or around €11.9 million, in pre-seed. The round was led by Accel, with the participation of Kindred, Air Street Capital and several business angels. Founded in 2025 in London, the company was created by Christian Owens and Alex Loizou (former CEO of TROUVA), it now has six employees.
