Conquest Planning has secured $80m in Series B funding to expand its artificial intelligence (AI)-powered financial planning services.  

The funding round was led by Goldman Sachs Alternatives, with participation from new investors including Canapi Ventures, BDC Capital, Citi Ventures, TIAA Ventures, and USAA. 

Existing backers BNY and Portage also contributed, bringing Conquest’s total funding to over $100m.  

Founded in 2018, Canada-based Conquest aims to make financial planning accessible and personalised for both retail investors and ultra-high-net-worth families.  

Its AI-powered software allows financial advisors, banks, and insurance firms to deliver tailored advice at scale. 

The newly acquired capital will be used to support Conquest’s US expansion and further develop its AI-based Strategic Advice Manager (SAM).  

SAM’s AI engine performs complex calculations to help advisors and clients understand the impact of various scenarios on financial goals, enabling informed decision-making, the startup explained.  

Conquest said that it will keep investing in its technology to enhance plan analysis capabilities, streamline onboarding and plan development processes, and develop tools and modules that facilitate dynamic content creation. 

Its new offering, SAM Bytes, allows advisors to engage with self-directed investors. 

Goldman Sachs Alternatives managing director of growth equity Jade Mandel said: “In periods of macro volatility, the need for a modern, comprehensive and flexible financial planning platform becomes even more pronounced. 

“We are thrilled to partner with Conquest on their Series B as they further expand into the US and continue to empower financial institutions to provide best-in-class financial planning at scale.” 

Conquest Planning CEO Mark Evans said: “The era of inefficient and inaccurate trial-and-error-based financial planning is over. As investors are demanding greater personalisation in all aspects of their financial lives, we have unlocked the power of automation and real-time intelligence to bring the advice industry into the modern age.  

“Conquest makes it possible for investors at any stage of life to get the financial advice they deserve. We are grateful to our partners for embracing our commitment to making high-quality advice more accessible to a broader range of families.” 

Conquest claims that it has already captured over 60% of the Canadian financial advisor market and is gaining traction in the US and UK.  

Serving more than 1,000 financial services organisations, including RBC, Manulife, BNY Pershing, and Raymond James, Conquest is nearing 1.5 million plans created on its platform.