Google Veteran Launches ‘Digital Family Office’ Backed by Betsy Cohen, Eric Schmidt

caesar-sengupta

Arta Finance launched on Wednesday with $90 million in funding from investors that included Betsy Cohen and former Google CEO Eric Schmidt. Arta Finance is a fintech that aspires to reproduce the family office experience for a wider audience with artificial intelligence.

Caesar Sengupta, the CEO of Arta and the former head of Google’s payments operations until 2021, referred to the operation as a “digital family office” and claimed it will initially target accredited investors in the United States before extending to non-accredited investors globally.

Family offices serve people who have hundreds of millions of dollars in assets, whereas Arta is aiming at those who have $100,000 to several million dollars in investable assets, according to Sengupta.

“Technology and AI have gotten to the point where we can take a lot of what these family offices do, and using technology, scale it in a way that it can be offered to everyone.”

Arta CEO Caesar Sengupta

The company will have offices in Mountain View, California, and Singapore, and is also supported by Ribbit Capital, Coatue Management, and Sequoia Capital India.

Eric Schmidt backs former Google exec’s digital family office platform in $90 million funding – Techcrunch

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